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We're expecting a long term surge towards 1.22033

We're expecting a long term surge towards 1.22033 | 01 March 2019

01 March 2019, EUR/USD

We're expecting a long term surge towards 1.22033

Wave Analysis

Todays the first day of the month, EURUSD successfuly closed above the monthly support level 1.12471. We expect this bounce to have marked an end to the corrective wave (b), that any clear signal to the upperside will act as an onset to a the impulsive wave (c) towards the uppertrendline. Instead of going long immediately, conservative traders should wait for a pullback towards 1.12471 to pick a long term buy order towards the upper trendline. As it is, only buy positions looks more ideal, but should price close below 1.12471 in the next few months, then a sell towards 1.07330 is expected.

Trade Recommendations:

We're looking for a buy towards 1.22033.

Bob Stan
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