Euro should close below 1.1289 before we can continue short. | 15 Februari 2019
15 Februari 2019, EUR/USD
Wave Analysis
According to the weekly chart attached, we're waiting for a close below 1.12862 to confirm that we're short with an ultimate target at 1.05616. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lowerside and should first break below 1.1286 before continua ting to the lowerside. As it is, we're eyeing the following levels as potential trade entry points, 1.14656, 1.12862, 1.11555, 1.07845 and 1.05616. Ultimately, we expect the price to reach the low of 1.05616. If you're short already, leave this position open.
Trade Recommendation:
Resell Euro upon a close below 1.1289.
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.
