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Remain long with the previous buy position with your target at 1.13895.

Remain long with the previous buy position with your target at 1.13895. | 08 June 2020

08 June 2020, EUR/USD

Remain long with the previous buy position with your target at 1.13895.

Wave Analysis

Euro is currently bouncing off from the supportive trend line, while the price is held above the 52 simple moving average, I expect nothing but a possible momentum to the upper side, we are waiting for a clear sign that the corrective three wave cycle is ended so that we buy the next impulsive wave towards 1.13895. If the price breaks below the 52 period moving average, then we expect further momentum much lower towards the 200 period moving average but should not break lower. As it is now, we recommend looking for long term buy orders.

Trade recommendations:

Remain long with the previous buy position with your target at 1.13895.

Bob Stan
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