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Buy abounce from the supportive trendline

Buy abounce from the supportive trendline | 30 August 2019

30 August 2019, EUR/USD

Look for long term sell positions towards 1.05900.

Wave Analysis

Euro is currently trading with an increasing bearish bias momentum. During the previous trading day, euro went perfectly as previously forecasted and is still pretty much bearish. As long as the price is contained within this range, we expect an acceleration to the lowerside but should not go beyond 1.07260. A break below this level will mean we're continuing to the lowerside with the next ideal take profit being 1.04540. This view can only be invalidated in case the price bounces off from the supportive trendline.

Trade Recommendations:

Buy abounce from the supportive trendline

Bob Stan
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