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Buy a bounce from 1.11743.

Buy a bounce from 1.11743. | 13 August 2019

13 August 2019, EUR/USD

Buy a bounce from 1.11743.

Wave Analysis

Euro is still consolidating within the contracting wedge formation. As long as the price remains within the shape formation, we're only trading reversals, basically, we're waiting for a bounce from the upper trendline to pick a sell while a bounce from 1.11743 will attract a buy. A break below 1.11743 will mean we're continuing to the lowerside with an ultimate target at 1.10875 and a break above the upper trendline will push the price further to the upperside towards 1.12470 or even higher.

Trade Recommendations:

Buy a bounce from 1.11743.

Bob Stan
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