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Buy Euro towards 1.12.

Buy Euro towards 1.12. | 06 December 2019

06 December 2019, EUR/USD

Buy Euro towards 1.12.

Wave Analysis

Despite the bearish pin bar seen on Wednesday this week, euro rallied even higher but could not break above the Wednesdays highest high. Accoridng to the 30 minutes chart above, we are looking for long term buy order. The fact that the price rallied and closed above 1.1080, I expect further momentum to the upper side towards 1.12 and could continue even higher. On the flip side, a break and a close below 1.1070 will give us the best place to consider a possible long term sell towards 1.1020.

Trade Recommendations:

Buy Euro towards 1.12.

Bob Stan
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