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We're on the sidelines.

We're on the sidelines. | 31 August 2022

31 August 2022, EUR/USD

Wave Analysis:

On the 4 hours chart attached, Euro remained within the expanding wedge formation but may likely breakout of it. If the price rebound from the upper trendline, then this will be the place I will be looking for a sell position from. And in case the price rebounds from the lower trendline, then this will be a good place to consider a possible long term sell position. In case the price breaks and closes below the lower trendline, then we expect a possible extension of the last impulsive wave (5) to the lowerside and may continue towards 0.88.

Trade Recommendations:

We're on the sidelines.

Bob Stan
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