Expect sellers to come in from 1.12470 | 07 مايو 2019
07 مايو 2019, EUR/USD
Wave Analysis
From the daily point of view, euro is currently trading within a converging wedge formation. As long as the price remains within this wedge, we expect a tremendously decline towards the next key level 1.10990. As it is on the daily chart, we're waiting for a clear sell signal from around 1.12470 with our stoploss above the recent highest high. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below 1.10990 towards 1.10500 or even lower.
Trade Recommendations:
Expect a possible sell position from 1.12470 with your take profit at 1.10990.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
