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Wait and buy a bounce from 1.12337 with your take profit at 1.13901.

Wait and buy a bounce from 1.12337 with your take profit at 1.13901. | 17 June 2020

17 June 2020, EUR/USD

Wave Analysis

After establishing a weekly resistance level around 1.14220. Euro has entered into a consolidation range, not going above 1.13901 or below 1.12337. As long as the price remains within this range, we are waiting for a sell from the top 1.13901 and a buy from the bottom 1.12337. And in case the price breaks and closes above 1.13901, then I will expect further momentum to the upper side with an ideal target at 1.16. And in case the price breaks below 1.12337, then we will expect further momentum to the lower side.

Trade Recommendations:

Wait and buy a bounce from 1.12337 with your take profit at 1.13901.

Bob Stan
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