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EURUSD. Waiting for low risk sell orders

EURUSD. Waiting for low risk sell orders | 08 Agustus 2019

08 Agustus 2019, EUR/USD

EURUSD. Waiting for low risk sell orders

Wave Analysis

Despite the previous momentum to the upperside, the impulsive wave (v) failed to break above the end of the second impulsive (iii), this is a good sign that the buyers are exhausted and as long as the price remains below the end of the third impulsive wave, we expect nothing but a possible momentum to the lowerside. As it is on the chart above, we;re basically waiting for a bounce from the upper trendline to pick a sell or a break below the supportive trendline to pick a sell towards 1.11335.

Trade Recommendations:

Sell a bounce from the upper trendline.

Bob Stan
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