We are on the sidelines. | 17 May 2022
17 May 2022, EUR/USD
Wave Analysis:
This pair has been trading within the upper and the lower trendline, during the previous trading days, the price bounced off from the lower trendline at the corrective wave cycle four towards the upper side at the impulsive wave cycle five. As at now, the price is on the upper trendline I expect a break above it and a further bullish momentum. However, should the price rebound towards the lower side, I expect it to go up to 1.0390.If you are looking at this pair right now, wait for a clear price move to pick a buy or a sell.
Trade Recommendation;
We are on the sidelines.
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.
