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Expect a bearish bounce from 1.12150

Expect a bearish bounce from 1.12150 | 02 May 2019

02 May 2019, EUR/USD

Wave Analysis

Yesterday, euro went as high as 1.12646 and as low as 1.11871, but ended up closing at just a few pips below its opening price. The previous trading day's candle is a possible sell candle and as long as the price remains below the previous day's opening price we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below the previous week's lowest low towards 1.10660. As it we, only recommend looking for sell orders.

Trade Recommendations:

Sell euro from 1.12150 with your take profit at 1.11050.

Trade CFD on NYSE, MOEX and NASDAQ corporate stocks without swap.

Bob Stan
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