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Place a pending buy limit order around 1.19285 with the take profit at 1.20560.

Place a pending buy limit order around 1.19285 with the take profit at 1.20560. | 30 November 2020

30 November 2020, EUR/USD

Place a pending buy limit order around 1.19285 with the take profit at 1.20560.

Wave Analysis

During the previous week, Euro broke out above the zone 1.19285 and is still pretty much above this level. While we continue to see sustenance above this level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 1.20560 towards 1.21 or even higher. As it is now, we are waiting for a pullback towards 1.19285 to pick a possible long term buy position.

Trade Recommendations:

Place a pending buy limit order around 1.19285 with the take profit at 1.20560.

Bob Stan
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