We are short. | 20 Juni 2022
20 Juni 2022, EUR/USD
Wave Analysis:
The Euro is currently trading in an expanding wedge formation, the price has been trading within the upper and lower trendline for a while now. Recently the price rallied from the impulsive wave cycle three towards the upper trendline at the corrective wave cycle four. As at now the price is rallying around the upper trendline, I expect it to bounce back to the lower trendline around 1.0070 from 1.0526 in continuation of the impulsive wave cycle five. However, should the price break above the upper trendline, then we automatically become buyers but as of now we are sellers.
Trade Recommendations;
We are short.
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.
