04 June 2021, EUR/USD
Wave Analysis
After breaking below the supportive trend line, Euro rallied to the lower side and is still very much bearish both on the daily and on the 8 hours chart attached. As it is now, we are holding onto long term sell positions expecting the price to breakout below 1.19858 and may breakout much lower towards 1.17450. And in case the price bounces off from 1.19858, then this will be a good place to consider a possible long term buy position expecting the price to rally to the upper side with an ideal target set at 1.22910.
Trade Recommendations:
We're sellers towards 1.19858.
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