Wait for a buy from around 23.6% fib level or 38.2% fib level. | 11 Junio 2020

11 Junio 2020, EUR/USD

Wait for a buy from around 23.6% fib level or 38.2% fib level.

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.


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.
Bob Stan
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