We are sellers towards 0.9980. | 18 May 2022
18 May 2022, EUR/USD
Wave Analysis:
The Euro is currently trading in an expanding wedge formation,recently the price rallied towards the upper trendline at the corrective wave cycle four.As at now the price is on the upper trendline,I expect it to continue short towards the lower trendline around 0.9980 or even much lower in continuation of the impulsive wave cycle five.However should the price break above the upper trendline then 1.0580 would be a good place to pick a buy from with the first ideal target at 1.0880,but as of now we are sellers.
Trade Recommendations:
We are sellers towards 0.9980.
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.
