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Expect a possible momentum to the lowerside towards 1.17180.

Expect a possible momentum to the lowerside towards 1.17180. | 18 August 2020

18 August 2020, EUR/USD

Expect a possible momentum to the lowerside towards 1.17180.

Wave Analysis

Although Euro is upwards, we are approaching a major resistance level 1.19018. As it is now, we expect a possible bounce from the level 1.19018 to pick a low risk sell position, a bounce from 1.19018 will mark an end to the corrective wave (b) and the beginning of the last impulsive wave (c). If you are looking at this chart now, expect either a bounce from 1.19018 or a breakout to the upperside. A close beyond 1.19018 will mean we are continuing to the upperside towards 1.201 or even higher.

Trade Recommendations:

Expect a possible momentum to the lowerside towards 1.17180.

Bob Stan
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