We are sellers towards 1.0355 | 03 May 2022

Wave Analysis:

The Euro is currently trading in a contracting wegde formation on a downtrend.Previously the price rallied towards the lower side at the impulsive wave cycle three but ended up rebounding towards the upper side in continuation of the corrective wave cycle four.Right now the price is rallying around the upper trendline,I expect it to bounce back to the lower trendline around 1.0355 or even much lower in continuation of the impulsive wave cycle five.However,should the price break above the upper trendline,then 1.0535 would be a good place to pick a buy position from with your first take profit at 1.0760.

Trade Recommendations:

We are sellers towards 1.0355