We're on the sidelines for now. | 18 November 2022

18 November 2022, EUR/USD

We're on the sidelines for now.

Wave Analysis:

Euro is currently trading within a contracting wedge formation. As long as the price remains within the current converging wedge formation, we are waiting for either a reversal from the within these trendlines to pick a reversal trade, or a we are on the sidelines, if the price breaks and closes above the upper the upper trendline, then this will be a good opportunity to keep looking for long term buy positions towards 1.0490 and may likely extend much higher. Basically, the idea here is to watch for either a break above the upper trendline to pick a buy or a break below the lower trendline to pick a sell.
Trade Recommendations:
We're on the sidelines for now.
Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus