We're on the sidelines. | 31 Agosto 2022
31 Agosto 2022, EUR/USD
Wave Analysis:
On the 4 hours chart attached, Euro remained within the expanding wedge formation but may likely breakout of it. If the price rebound from the upper trendline, then this will be the place I will be looking for a sell position from. And in case the price rebounds from the lower trendline, then this will be a good place to consider a possible long term sell position. In case the price breaks and closes below the lower trendline, then we expect a possible extension of the last impulsive wave (5) to the lowerside and may continue towards 0.88.
Trade Recommendations:
We're 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.
