EURUSD. Sell a break below the supportive trendline towards 1.10970. | 30 Julio 2019
30 Julio 2019, EUR/USD
Wave Analysis
After a spike to the upperside last week on Thursday, euro pulled back to the lowerside and is now rallying within the converging wedge formation. While the price remains within this wedge, we're only interested in trading reversals from the upper trendline and the lower trendline. A break below the lower trendline will offer an ideal place to look for long term sell orders with an ideal target at 1.10970 or even lower. As it is, buying this pair or holding onto a buy position looks more risky and cannot be recommended.
Trade Recommendations
Sell a break below the supportive trendline towards 1.10970.
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.
