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Remain short towards 1.17057.

Remain short towards 1.17057. | 20 August 2020

20 August 2020, EUR/USD

Remain short towards 1.17057.

Wave Analysis

After an attempt to breakout above 1.18978, Euro pulled back to the lower side and ended up below 1.18978. As long as the price remains below 1.18978, we expect nothing but a possible momentum to the lower side towards 1.17057. The anticipated bearish price rally is the continuation of the corrective three wave cycle and could see price break below 1.17057. On the flip side, should the price breakout above 1.18978, then this will be a good place to consider a possible buy position.

Trade Recommendations:

Remain short towards 1.17057.

Bob Stan
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