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Look for long term sell positions towards 1.05900.

Look for long term sell positions towards 1.05900. | 29 August 2019

29 August 2019, EUR/USD

Look for long term sell positions towards 1.05900.

Wave Analysis

Since the beginning of this week, instead of Euro continuing to the upper side, we've seen a massive decline and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains within the declining shape formation, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of both the impulsive waves 5 and (c) and should break below the supportive trend line towards 1.05900 or even lower.

Trade Recommendations:

Look for long term sell positions towards 1.05900.

Bob Stan
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