Sell a break below 1.09024. | 22 May 2020

Wave Analysis

After breaking below the supportive trendline late yesterday the price continued to move to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As it is now, we are expecting a possible continuation of the impulsive wave (c) to the lowerside and should break below 1.09024 towards 1.08085. This view can only be invalidated in case the price fails to break below 1.09024, if this is the case then, we will be expecting a possible rally to the upperside with an ultimate target around 1.10145, if this is the case then a momentum to the upperside is expected.

Trade Recommendations:

Sell a break below 1.09024.