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We're sellers towards 1.21.

We're sellers towards 1.21. | 05 August 2021

05 August 2021, EUR/USD

We're sellers towards 1.21.

Wave Analysis

During the previous trading, the impulsive wave (c) continued to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. While the price remains below the previous day's lowest low, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of an impulsive wave count and could see the price break below 1.21 and may extend much lower. If you are looking at this chart right now, keep looking for long term sell positions expecting a rally towards 1.21.
Trade Recommendations:
We're sellers towards 1.21.
Bob Stan
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