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We are on the sidelines.

We are on the sidelines. | 02 May 2022

02 May 2022, EUR/USD

We are on the sidelines. Wave Analysis;

The Euro is currently trading in a contracting wedge formation,the price has been trading within the upper and the lower trendline.During the previous trading days, the price bounced off from the upper trendline at the corrective wave cycle four towards the lower side at the impulsive wave cycle five.As at now the price is around the lower trendline I expect a break below the lower trendline or a rebound towards the upper trendline.

Trade Recommendations:

We are on the sidelines.

Bob Stan
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