19 September 2019, EUR/USD
Technical Observation
EURUSD is in an active downtrend on the monthly chart. However, on the 4 hour chart, EURUSD is rising within a wedge formation. While the price is contained within this shape formation, I'm looking for low risk buy position towards the upper trendline. On the attached chart above, I'm waiting for a bounce from the upper trendline to pick a long term sell order towards the lower trendline. And in case the price breaks below the lower trendline, then further momentum to the lowerside is expected.
Trade Recommendations:
Only sell a break below 1.09425.