08 Agustus 2019, EUR/USD
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.