We're downwards | 08 مايو 2019
08 مايو 2019, EUR/USD
Wave Analysis
The current dominant trend on this pair is downwards. As long as the price remains with the converging wedge formation, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below the recent lowest low towards 1.06222. The idea is to wait for further correction to the upperside to pick a low risk sell order. Conservative traders can wait and sell a break below 1.11270 towards 1.06220.
Trade Recommendations:
We're short towards 1.06220.
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.
