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Remain short with your target at 1.08105.

Remain short with your target at 1.08105. | 13 May 2020

13 May 2020, EUR/USD

Remain short with your target at 1.08105.

Wave Analysis

Yesterday, Euro bounced off from the upper trend line, and is currently heading to the lower side, we expect this bounce to be the end of the impulsive wave (E) that the current bearish price rally is the continuation of the corrective three wave cycle and could push price much lower towards the supportive trend line. As it is now, we are waiting for the end of the corrective wave (b) to end around 1.08625 to sell the last impulsive wave (c) to the lower side and should first break below 1.08315.

Trade Recommendations:

Remain short with your target at 1.08105.

Bob Stan
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