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Remain long towards 1.201.

Remain long towards 1.201. | 06 August 2020

06 August 2020, EUR/USD

Remain long towards 1.201.

Wave Analysis

Euro continues to rally to the upper side and is still pretty much bullish both on the daily and on the weekly charts. While we continue to see high lows on this chart, we expect a possible continuation of the impulsive wave (v) to the upper side and should break above 1.1900 or even higher towards 1.20 or even higher. This view can only be invalidated in case the price breaks and closes below the Alligator indicator, if this is the case, then further momentum to the lower side is expected towards 1.16490.

Trade Recommendations:

Remain long towards 1.201.

Bob Stan
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