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We're sellers towards 1.1847 and may extend much lower

We're sellers towards 1.1847 and may extend much lower | 29 June 2021

29 June 2021, EUR/USD

We're sellers towards 1.1847 and may extend much lower

Wave Analysis
Euro is currently rallying within a declining wedge formation. As long as the price remains within this range, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lowerside. If the price breaks below 1.1847, then further momentum to the lowerside. As it is on the chart, we recommend looking for long term sell positions expecting the price reach the target we mentioned above. Buy positions looks a bit risky and may not be recommended.
Trade Recommendations:
We're sellers towards 1.1847 and may extend much lower

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Bob Stan
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