Buy a break above the upper trendline. | 12 Agustus 2019
12 Agustus 2019, EUR/USD
Wave Analysis
Euro is currently trading within a contracting tringulor formation. This is a perfect trend continuation shape and if price can breakout above the upper trendline, then we'll expect further momentum to the upperside, The anticipated bullish price rally is the continuation of an impulsive wave count and should breakout above 1.12460 towards 1.12600 or even higher. And on the flip side, should price breakout below 1.11792,then we'll be looking for a long term sell orders with an ultimate target at 1.10500.
Trade Recommendations:
Buy a break above 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.
