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We're on the sidelines for now.

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.

Bob Stan
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