Look for a short term buy towards the upper trendline. | 05 Juni 2019
05 Juni 2019, EUR/USD
Wave Analysis
Few day ago, euro bounced off from the supportive the supportive trendline and is currently heading to the upperside. We expect the bounce from this support to have marked an end to the previous impullsive five wave cycle that the current move to the upperside is the continuation of a correction to the upperside but should not breakout above the upper trendline. As it is on the 4 hours chart, we expect nothing but a possible momentum to the upperside towards the upper trendline which is a good sell place.
Trade Recommendations:
Look for a short term buy towards the upper trendline.
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.
