11 Junio 2020, EUR/USD
Wave Analysis
This week, Euro established a resistance level around 1.13980. As long as the price is held below this swing high, we expect a possible correction towards the 38.2% fib level but should not go beyond the 50.0% fib level. If you are looking at this chart now, expect further correction to the lower side towards the 38.2% fib level to pick a low risk buy position. Should the price continue to the lower side below 38.5% fib level, then we will have our pending buy limit order around the 50.0% fib. Alternatively, should the price break above the 1.13980, then this will be a good place to consider a long term buy position.
Trade Recommendations:
Wait for a buy from around 23.6% fib level or 38.2% fib level.
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