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Look for sell orders towards the supportive trendline.

Look for sell orders towards the supportive trendline. | 21 August 2019

21 August 2019, EUR/USD

Look for long term sell orders

Wave Analysis:

Euro is currently trading with an increasing bearish bias momentum. As we mentioned yesterday, this is still a very good sell and while the price is contained between the two trendlines acting as a contracting shape formation, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (E) and should breakout below 1.10290 towards 1.09830 ore even lower. As it is on the weekly charts, buying this pair looks a bit risky and may not be recommended.

Trade Recommendations:

Look for sell orders towards the supportive trendline.

Bob Stan
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