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Remain long towards 1.09875.

Remain long towards 1.09875. | 26 May 2020

26 May 2020, EUR/USD

Remain long towards 1.09875.

Wave Analysis

Instead of continuing to the lower side as previously forecasted, Euro moved to the upper side earlier this week and is still showing signs of continuing to the upper side. On the 4 hours chart attached, we expect a possible continuation of the impulsive wave (5) to the upper side with an ultimate target around 1.09875-1.10190. If the price breaks and closes above 1.10190, then we expect further momentum to the upper side, but should the price bounce off from around 1.09875-1.10190, then this will give us a good place to consider a low risk sell position.

Trade Recommendations:

Remain long towards 1.09875.

Bob Stan
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