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Only buy a break above 1.1607

Only buy a break above 1.1607 | 24 August 2018

24 August 2018, EUR/USD

Only buy a break above 1.1607

Wave Analysis

Two weeks ago, the was an attempt break below 1.1460. We are waiting a rise above 1.1605 to confirm further a possible rally to the upper side. But according to the weekly chart attached, as long as the price remains below 1.1605, we expect a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (c) and should break below 1.12 before further bearish is seen. Should the price break above 1.1605, then this will be a good place to look for a long position.

Trade Recommendation:

Only buy a break above 1.1607

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