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Remain long.

Remain long. | 31 July 2020

31 July 2020, EUR/USD

Wave Analysis

Despite the previous forecast that this pair could rally to the lower side, Eurusd rose tremendously and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the two simple moving average, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (v) to the upper side and should break above towards 1.2032 or even higher. As it is now, we are waiting for a correction.

Trade Recommendations:

Remain long.

Bob Stan
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