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We are sellers towards 10120.

We are sellers towards 10120. | 16 May 2022

16 May 2022, EUR/USD

We are sellers towards 1.0120.

Wave Analysis:

The Euro has been trading within the upper and the lower trendline for quite sometime now, recently the price rallied from the lower trendline at the impulsive wave cycle three towards the upper side at the corrective wave cycle four,currently the price is rallying towards the lower trendline in continuation of the impulsive wave cycle five. I expect a further bearish momentum from 1.0400 towards 1.0120.The bears are in control.

Trade Recommendations:

We are sellers towards 1.0120.

Bob Stan
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