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Wait for a buy from around 23.6% fib level or 38.2% fib level.

Wait for a buy from around 23.6% fib level or 38.2% fib level. | 12 June 2020

12 June 2020, EUR/USD

Wait for a buy from around 23.6% fib level or 38.2% fib level.

Wave Analysis

Euro is still being held above the Alligator indicator attached. As long as the price remains above this indicator, we expect further momentum to the upper side, ideally, we are expecting a possible correction towards 38.2% fib level to pick a buy position and should the price break and close above 1.14360, then we will be expecting further momentum to the upper side with an ultimate target around 1.1536 or even higher. On the other side, a pullback towards 50.0% fib level will be the best place to consider a possible long term buy position.

Trade Recommendations:

Wait for a buy from around 23.6% fib level or 38.2% fib level.

Bob Stan
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