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Remain long towards 1.09918.

Remain long towards 1.09918. | 20 May 2020

20 May 2020, EUR/USD

Remain long towards 1.09918.

Wave Analysis

Just as previously forecasted, euro broke above the upper trendline and is still above this trendline, while the price continues to sustain itself above the upper trendline, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (iii) to the upperside and should break above 1.09518 towards 1.11400 or even higher. This view can only be invalidated in case the price breaks and closes bellow the same trendline, should this happen, then we expect a possible momentum towards 1.07324.

Trade Recommendations:

Remain long towards 1.09918.

Bob Stan
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