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EURUSD Wait for a long term sell from 1.12695 with your take profit at 1.11260.

EURUSD Wait for a long term sell from 1.12695 with your take profit at 1.11260. | 18 June 2019

18 June 2019, EUR/USD

EURUSD Wait for a long term sell from 1.12695 with your take profit at 1.11260.

Wave Analysis

The close of the previous business day saw euro correct itself to the upperside but is still pretty much below the resistance trendline. As long as this is true, that the price is below the upper resistance trendline and also below 1.12985, we expect a possible momentum to the lowerside. The idea is not to pick a sell now, rather to wait for price to pullback to the upperside towards the same trendline to sell the next impulsive wave count towards 1.11260, The current move to the upperside is a mere correction and should not be bought.

Trade Recommendations:

Wait for a long term sell from 1.12695 with your take profit at 1.11260.

Bob Stan
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