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EURUSD. We're looking for long term sell orders towards 1.11400.

EURUSD. We're looking for long term sell orders towards 1.11400. | 06 Agosto 2019

06 Agosto 2019, EUR/USD

Wave Analysis

After a slight momentum to the upperside earlier today, euro is currently pulling back to the lowerside. We expect the bounce from the level 1.12415 to have marked an end to the impulsive five wave cycle, that the current bearish price rally is the unfolding of a corrective wave count and should breakout below 1.11910 towards 1.11400. If you're looking forward to trading this pair, the ideal position right now is a sell. The level 1.12415 is also a very good sell place on the daily and any bounce from it could trigger a long term sell.

Trade Recommendations:

We're looking for long term sell orders towards 1.11400.

Bob Stan
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