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Remain long towards 1.154.

Remain long towards 1.154. | 16 June 2020

16 June 2020, EUR/USD

Expect further bearish correction towards 1.10963-1.10721.

Wave Analysis

Yesterday, Euro moved slightly to the lowerside but is currently gaining. we are waiting for a clear breakout above the previous week's highest high to pick a long position and while this is true, that is the price is above this high, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should break above 1.14540 towards 1.167 or even higher. On this chart, only buy positions looks ideal and can be recommended but with an ultimate target at 1.15.

Trade Recommendations:

Remain long towards 1.154.

Bob Stan
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