04 May 2020, EUR/USD
Wave Analysis
Earlier today, the corrective three wave cycle continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. While the price is held below 1.09729, we expect nothing but a possible momentum to the lower side, we are waiting for the corrective wave (b) to stretch towards 1.09729 where we'll be looking for a possible long term sell position. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should break below 1.09230 towards 1.08555.
Trade Recommendations:
Wait for a sell from 1.09729.
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