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Sell a break below the supportive trendline towards 1.04640.

Sell a break below the supportive trendline towards 1.04640. | 03 September 2019

03 September 2019, EUR/USD

Sell a break below the supportive trendline towards 1.04640.

Wave Analysis

The previous months candle closed as a perfect bearish pin bar candle. This is a clear sign that sellers are dominating this market, however, instead of looking for a sell position now, we're waiting for a clear breakout below the supportive trendline to confirm that we're continuing to the lowerside. Conservative traders can wait for a pullback towards 1.11290 to pick a low risk sell order. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should breakout below 1.07940 towards 1.04640.

Trade Recommendations:

Sell a break below the supportive trendline towards 1.04640.

Bob Stan
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