We’re looking for a possible long term sell from within the zone 1.15069-1.14656 towards 1.05616. | 04 February 2019
04 February 2019, EUR/USD
Wave Analysis:
Despite the bullish momentum seen during the previous week, Euro could not rise above the zone 1.15069-1.14656. This is a significant weekly zone and as long as the price remains below it, we expect a steep decline. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lowerside and should first break below 1.12670 before a move further lower towards 1.05616 is seen, and on the bullish side, should the price close above 1.15069, then this will be an ideal place to look for a buy position towards 1.24430. The anticipated bullish price rally will be the unfolding of an impulsive wave count and should break above 1.17885 before a move further towards 1.25760 is seen.
Trade Recommendations:
We’re looking for a possible long term sell from within the zone 1.15069-1.14656 towards 1.05616.
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.
