31 May 2019, EUR/USD
Wave Analysis
During the previous trading day, the impulsive wave (E) traded impulsively to the lower side and is still pretty much bearish both on the daily and the weekly charts. As we mentioned in our previous forecasts, as long as the price remains within the decline wedge formation, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below 1.10150 towards 1.0960 or even lower.
Trade Recommendations:
Look for long term sell orders towards 1.09680.
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