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Buy a bounce from the supportive trendline.

Buy a bounce from the supportive trendline. | 14 Agosto 2019

14 Agosto 2019, EUR/USD

Buy a bounce from the supportive trendline.

Wave Analysis

During the previous trading day, Euro declined steeply but failed to breakout below the supportive trendline. As long as the price remains above the upper trendline, we expect nothing but a possible bounce towards the upper trendline. the anticipated bearish price rally is the continuation of the impulsive wave (E) to the upperside and should not go beyond 1.12235. And in case the price breaks below the supportive trendline, then this will be an ideal place to look for long term sell orders.

Trade Recommendations:

Buy a bounce from the supportive trendline.

Bob Stan
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