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Expect sellers to come in from 1.12470

Expect sellers to come in from 1.12470 | 07 May 2019

07 May 2019, EUR/USD

Expect sellers to come in from 1.12470

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.

TRADING STRATEGY FOR FREE!

Bob Stan
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