26 Agustus 2019, EUR/USD
Wave Analysis
Euro is currently trading within a declining, wedge formation As long as the price remains within this shape formation, we expect nothing but a possible momentum to the lowerside. Following the previous week's momentum to the upperside, we expect nothing but a possible momentum to the upperside but should not go above the upper trendline. As it is on the daily chart, a bounce from the upper trendline will mean we're continuing short with both the impulsive waves 5 and (c) and should break below 1.08660 towards 1.05900.
Trade Recommendations:
Look for long term sell orders from the upper trendline