Wait for a bounce from the supportive trendline to pick a low risk buy order. | 08 April 2019
08 April 2019, EUR/USD
Wave Analysis:
Few days ago, Euro established a support around the supportive trendline. As long as the price is contained above this trendlione, we choose to remain hesitant to pick a long term buy order. Any clear bounce from the supportive trendline, will mark an end to the immediate corrective three wave cycle and could push the price higher towards the weekly resistance level 1.17743. A breakout to the lowerside will push the price further to the lowerside towards 1.045.
Trade Recommendation;
Wait for a bounce from the supportive trendline to pick a low risk buy order.
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.
