Expect further correction upwards. | 14 August 2018
14 August 2018, EUR/USD
Wave analysis:
After breaking below the contracting wedge formation, Euro declined steeply and is still pretty much bearish. on the previous trading day however, euro closed slightly above its opening. We expect this upward rally t be a slight correction and should not g above 1.1510 where we’ll be looking for a long term sell position. The anticipated bearish price rally will be the continuation of an impulsive wave count and should break below last week’s lowest low. This downward rally is an impulsive wave count and may go beyond 1.13
Trade Recommendation:
Expect further correction upwards.
101% Double the volume
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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.
