Wait for a sell from around 61.8% fib level towards 23.6% fib level. | 20 Agosto 2020

Wave Analysis

Yesterday, The US Dollar bounced off from the 38.2% fib level, and is currently heading to the upper side, we are expecting a possible momentum towards 50.0% fib level and could breakout much higher towards the upper trend line, The anticipated bullish price rally is the continuation of the corrective wave (D) but should not go above the upper trend line. A clear rebound from the upper trend line will be a good sign that the corrective wave (D) is ended so that we sell the last impulsive wave (E) to the lower side towards 23.6% fib level.

Trade Recommendations:

Wait for a sell from around 61.8% fib level towards 23.6% fib level.