We are sellers. | 11 May 2022
11 May 2022, EUR/USD
Wave Analysis:
This pair is on a downtrend,during the previous trading days,the price rallied around the lower trendline but ended up rebounding from the impulsive wave cycle three towards the upper side at the corrective wave cycle four.The price then bounced off towards the lower trendline in continuation of the impulsive wave cycle five.Right now,the price is rallying below a resistance zone (1.0651-1.0620),as long as the price remains below this zone ,I expect a futher bearish momentum.If you are looking at this pair right now,look for sell positions below the resistnce zone.
Trade Recommendations:
We are sellers.
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.
