We're on the sidelines for now. | 30 Agosto 2022
30 Agosto 2022, EUR/USD
Wave Analysis:
Past week, Euro remained within the expanding wedge formation and is not showing any signs of breaking out of it. As it is right now, I am waiting for a breakout above the upper trendline to pick a possible low risk buy position with an ultimate target set around 1.01845. If the price breaks above this level, then further momentum to the upperside is expected. On the flipside, should the price break and close below the lower trendline, then further momentum to the lowerside is expected.
Trade Recommendations:
We're on the sidelines for now.
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.
