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Remain long towards 1.20130.

Remain long towards 1.20130. | 26 August 2020

26 August 2020, EUR/USD

Look for low risk buy positions towards 1.20130.

Wave Analysis

After the bounce from the supportive trendline, the impulsive wave (3) continued to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the upper trendline, we expect nothing but a possible momentum to the upperside with an ultimate target around 1.20130. And should the price breakout below the supportive trendline, then this will be a good place to consider a long term sell position towards 1.15840.

Trade Recommendations:

Remain long towards 1.20130.

Bob Stan
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