We're sellers towards 1.16. | 11 August 2021
11 August 2021, EUR/USD
Wave Analysis
As opposed to the US Dollar, Euro is currently in an active downtrend. As long as the price remains below the Alligator indicator attached, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and should see the price break below 1.16967. A break below this level will push the price much lower. On the flipside, should the price again break above the previous day's highest high, then we may consider a possible long term buy
with an ideal target set at 1.17430. As it is right now, we are only intrested in sell positions.
Trade Recommendations:
We're sellers towards 1.16.
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.
