22 May 2018, EUR/USD
wave Analysis
During the previous trading day, the daily candle opened at 1.17706, went as high as 1.179955 and as low as 1.17165 but ended up closing at 1.17912 just a few pips above its opening. The previous day's candle is a perfect bullish pin bar candle but in the wrong direction. Being that the price has been in a constant downtrend for sometimes now, we expected a bearish pin bar, however, we cannot overlook the previous day's candle. This pin bar could possible mean that the buyers are gaining an edge, and that the price could soon head upwards. However, instead of going long or short, we advice remaining flat.
Trade Recommendations:
Flat
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