Wait for a bounce from around 1.10330 to pick a buy. | 29 August 2019
29 August 2019, EUR/USD
Technical Observation
EURUSD is consolidating in between a declining, contracting wedge formation. As it is on the daily chart, we expecting a possible momentum towards the supportive trendline. If the price fails to break below this trendline, we expect a steep decline towards this trendline to look for buy orders. A breakout below this supportive trendline may push the price massively to the lowerside with the next ideal take profit being 1.09930. A break below this target will push the price lower towards 1.050.
Trade Recommendations:
Wait for a bounce from around 1.10330 to pick a buy.
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.
