Buy a bounce from the supportive trendline. | 08 August 2019
08 August 2019, EUR/USD
Technical Observation
EURUSD is currently trading within a contracting wedge formation. As long as the price remains within this wedge formation, I only recommend trading revsersals, conservative traders should wait and sell a bounce from the upper trendline and buy a bounce from the supportive trendline towards the upper trendline. In case of a breakout above the upper trendline, then we'll look for further buy positions with an ultimate target at 1.12620. And in case price breaks below the supportive trendline.
Trade Recommendations:
Buy a bounce from the supportive trendline.
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.
