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Expect a possible momentum to the lower side during this week

Expect a possible momentum to the lower side during this week | 01 May 2019

01 May 2019, EUR/USD

Expect a possible momentum to the lower side during this week

Wave Analysis

During the previous trading day, this pair rallied slightly higher than expected but is still bearish. According to the weekly chart, we still expect a sell especially while the price is below the level 1.12460. As long as the price is contained below this level, we expect nothing but a possible momentum to the lowerside with an ultimate target at 1.10300. Basically, we're still sellers on this pair despite the recent two day rise. Our expectation is to resell the impulsive wave (E) around 1.12460 towards 1.10300.

Trade Recommendations:

We're short from 1.12460.

Trade CFD on NYSE, MOEX and NASDAQ corporate stocks without swap.

Bob Stan
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