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Sell a bounce from the upper trendline.

Sell a bounce from the upper trendline. | 29 April 2020

29 April 2020, EUR/USD

Wave Analysis

Yesterday, nothing much happened on this pair, Euro pulled back to the upperside but is currently bouncing off of the upper trendline, this is a dynamic resistance level and as long as the price does not clearly break and close above this trendline, we expect nothing but a possible momentum to the lowerside, the anticipated sell position if the continuation of an impulsive wave count and could see the price break below 1.07070 towards 1.05580. A break and close above the upper trendline will push the price much higher towards 1.11550.

Trade Recommendations:

Sell a bounce from the upper trendline.

Bob Stan
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