16 December 2019, EUR/USD
Wave Analysis
After an impulsive move to the upperside, the corrective three wave cycle could not break beyond the upper trendline. The Friday's candle ended up close below the same trend line even after attempting a break above. As long as the price is held below this trend line,w e expect nothing but a possible momentum to the lowerside. Basically, we expect the recent bounce from this trendine to be an end to the corrective three wave cycle, that the current bearish price rally is unfolding of an impulsive wave count and could see price break below 1.0980.
Trade Recommendations:
Sell Euro with your take profit at 1.0920.
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