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Remain short with an ultimate target around 1.03405.

Remain short with an ultimate target around 1.03405. | 08 May 2020

08 May 2020, EUR/USD

Remain short with an ultimate target around 1.03405.

Wave Analysis

After the previous day's pullback,we are yet to see any clear moves to the lower side, we expect further momentum to the lower side especially during the coming week, As it is now, I recommend looking for long term sell orders with an ultimate target at 1.03405, the anticipated bearish price rally is the continuation of the impulsive wave (5) to the lower side and should break below 1.06030 towards 1.03405. If you are on this chart, expect a break below this target towards 1.03405.

Trade Recommendations:

Remain short with an ultimate target around 1.03405.

Bob Stan
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