Remain long towards 1.09875. | 26 May 2020
26 May 2020, EUR/USD
Wave Analysis
Instead of continuing to the lower side as previously forecasted, Euro moved to the upper side earlier this week and is still showing signs of continuing to the upper side. On the 4 hours chart attached, we expect a possible continuation of the impulsive wave (5) to the upper side with an ultimate target around 1.09875-1.10190. If the price breaks and closes above 1.10190, then we expect further momentum to the upper side, but should the price bounce off from around 1.09875-1.10190, then this will give us a good place to consider a low risk sell position.
Trade Recommendations:
Remain long towards 1.09875.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
