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Waiting for a possible long term sell below 1.06640.

Waiting for a possible long term sell below 1.06640. | 24 March 2020

24 March 2020, EUR/USD

Wave Analysis

Euro is currently trading within a contracting wedge formation. As long as the price is held below the upper trend line acting as the resistance to the wedge formation, we expect nothing but a possible momentum to the lower side. As it is now, if the price is to move to the upper side, then this will be the continuation of the corrective three wave cycle and could see the price break above 1.08290 towards 1.09110. And on the flip side should the price break and close below 1.06640, then this will be a good place to consider along term sell order.

Trade Recommendations:

Waiting for a possible long term sell below 1.06640.

Bob Stan
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