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Look for a short term buy towards the upper trendline.

Look for a short term buy towards the upper trendline. | 05 June 2019

05 June 2019, EUR/USD

Look for a short term buy towards the upper trendline.

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.

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