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Remain long towards 1.20.

Remain long towards 1.20. | 07 August 2020

07 August 2020, EUR/USD

Remain long towards 1.201.

Wave Analysis

Yesterday, nothing much happened on this pair, Euro continued to the upper side but ended up pulling back to the lower side. As long as the price remains below 1.19370, we are on the sidelines, we are either waiting for a bounce to pick a sell or a breakout above 1.19370 to continue to the upper side towards 1.20 and could breakout much higher. This upward rally is the continuation of the impulsive wave (v) to the upper side towards 1.20. A break below the lower blue line will push the price to the lower side.

Trade Recommendations:

Remain long towards 1.20.

Bob Stan
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