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Expect further momentum to the lowerside

Expect further momentum to the lowerside | 20 Agustus 2019

20 Agustus 2019, EUR/USD

Look for long term sell orders

Wave Analysis:

During the previous trading day, Euro continued slightly to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As we said in our previous forecast, as long as the price remains within the declining but contracting wedge formation, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (E) and should not go beyond the 1.09830, if price breaks below this level, then further momentum to the lowerside is expected.

Trade Recommendations:

Expect further momentum to the lowerside.

Bob Stan
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