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Remain short towards 1.07.

Remain short towards 1.07. | 25 May 2020

25 May 2020, EUR/USD

Remain short towards 1.07.

Wave Analysis

EURUSD is currently in an active downtrend, as long as the price remains below the Alligator trend indicator attached, I expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should break below 1.08710 towards 1.07 or even lower. This view can only be invalidated in case the price breaks and closes above 1.09135, if this is the case, then we will be expecting further momentum to the upper side with an ultimate target around 1.09730.

Trade Recommendations:

Remain short towards 1.07.

Bob Stan
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