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We're buyers towards 1.2.

We're buyers towards 1.2. | 16 December 2022

16 December 2022, EUR/USD

We're buyers towards 1.2.

Wave Analysis:

During the previous trading day, Euro rallied to the lowerside but is still above 1.06218. As long as the price remains above this level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the last impulsive wave (5) and (c) to the upperside and may see the price rally towards 1.1 and may continue much higher towards 1.5 or even higher. On the flipside, should the price break and close below 1.06218, then further momentum to the lowerside is expected towards 1.03899.
Trade Recommendations:
We're buyers towards 1.2.
Bob Stan
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