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Wait | 30 March 2020

30 March 2020, EUR/USD

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Wave Analysis

During the previous trading week, euro pulled back to the upperside and is still pretty much bullish both on the daily and on the weekly charts. We expect the upward rally that began last week to be the unfolding of a corrective three wave cycle and could see price break above 1.12065 towards 1.14515. This view will only be invalidated in case the price breaks and closes below the previous week's lowest low, of this is the case, then a momentum to the lowerside is expected with an ultimate target around 1.04.

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Bob Stan
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