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Look for sell positions with you stop loss above Friday's highest high.

Look for sell positions with you stop loss above Friday's highest high. | 18 May 2020

18 May 2020, EUR/USD

Look for sell positions with you stop loss above Friday's highest high.

Wave Analysis

Few hours ago, Euro failed to sustain the break below the supportive trend line. If the price can break and close below the supportive trend line for the second time, then this will give us a good place to consider a possible long term sell position with an ultimate target around 1.07760 towards 1.07600 or even lower. This bearish price rally is the continuation of the impulsive wave (c) to the lower side and may head stright below 1.07600. Should the price break and close above the same trend line, then we may consider a low risk buy position.

Trade Recommendations:

Look for sell positions with you stop loss above Friday's highest high.

Bob Stan
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