01 Junio 2020, EUR/USD
Wave Analysis
During the previous week, Euro rose tremendously and is still in an active up trend, while the price is held above the three Moving averages forming parts of the Alligator indicator, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of both the impulsive waves (v) and (5) and should break above 1.11575 towards 1.12. This upward rally is supported by the fact that the ADX green line is above the red line, this supports our upward position. So therefore,we recommend looking for long term buy positions.
Trade Recommendations
Remain long
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