Look for long term sell orders from the upper trendline | 26 Agustus 2019
26 Agustus 2019, EUR/USD
Wave Analysis
Euro is currently trading within a declining, wedge formation As long as the price remains within this shape formation, we expect nothing but a possible momentum to the lowerside. Following the previous week's momentum to the upperside, we expect nothing but a possible momentum to the upperside but should not go above the upper trendline. As it is on the daily chart, a bounce from the upper trendline will mean we're continuing short with both the impulsive waves 5 and (c) and should break below 1.08660 towards 1.05900.
Trade Recommendations:
Look for long term sell orders from 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.
