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Remain short towards 50.0% fib level.

Remain short towards 50.0% fib level. | 21 July 2020

21 July 2020, EUR/USD

Remain short towards 50.0% fib level.

Wave Analysis

Yesterday, Euro continued to the upper side but has now pulled back to the lowerside. As long as the price remains below the swing high 1.14615, we are expecting a possible momentum to the lowerside, as it is now, we are expecting a possible momentum to the lower side but should not go below 23.6% fib level, if the price breaks below this level, then we may see further momentum to the lower side towards 50.0% fib level. And in case the price breaks and closes above 1.14615, then further momentum upwards is expected.

Trade Recommendations:

Remain short towards 50.0% fib level.

Bob Stan
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