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Remain short with an ultimate target at 1.08020.

Remain short with an ultimate target at 1.08020. | 06 May 2020

06 May 2020, EUR/USD

Wave Analysis

During the previous trading day, both the impulsive waves (5) and (c) continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the level 1.08280, we expect nothing but a possible momentum to the lower side the anticipated bearish price rally is the continuation of both the impulsive waves (5) and (c) and should break below 1.08020 towards 1.070 or even lower. The idea is to wait for a pullback towards 1.0820 to pick a sell order.

Trade Recommendations:

Remain short with an ultimate target at 1.08020.

Bob Stan
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