We're on the sidelines | 19 September 2022
19 September 2022, EUR/USD
Wave Analysis:
Euro continues to remain with a consolidation despite the fact that the overall trend is bearish. As long as the price remains below the two moving averages shown above, I expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of a bearish rally, and should see the price break and close below 0.98 or even lower. The idea on this chart is to wait for a break below the previous week's lowest low to pick a sell, or a bounce from the previous week's highest high to pick a sell.
Trade Recommendations:
We're on the sidelines
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
