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Wait for a rebuy from around 1.18978.

Wait for a rebuy from around 1.18978. | 19 August 2020

19 August 2020, EUR/USD

Wait for a rebuy from around 1.18978.

Wave Analysis

During the previous trading day, Euro rallied to the upper side and even went above 1.18978. As long as the price remains above 1.18978, we expect nothing but a possible momentum to the upper side towards 1.2035. This view can only be invalidated in case the price remains above 1.18978. If the price pulls back to the lowerside and breaks below 1.18978, then this will be a good place to consider a possible sell position with an ultimate target set around 1.17057 and could breakout much lower.

Trade Recommendations:

Wait for a rebuy from around 1.18978.

Bob Stan
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