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Look for low risk buy positions towards 1.20130.

Look for low risk buy positions towards 1.20130. | 25 August 2020

25 August 2020, EUR/USD

Look for low risk buy positions towards 1.20130.

Wave Analysis

Euro is showing signs of bouncing off of the supportive trendline. Following the failed attempt to sustain the break below the supportive trendline, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (3) to the upperside and should break above 1.19700 towards 1.20130. If you are looking at this chart now, keep looking for long term buy positions, but in case of a break below the supportive trendline, wait and sell a break below 1.17560 towards 1.16270.

Trade Recommendations:

Look for low risk buy positions towards 1.20130.

Bob Stan
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