Expect further momentum to the lowerside. | 08 September 2020
08 September 2020, EUR/USD
Wave Analysis
Yesterday, we expected a p[possible momentum to the lowerside and even a breakout below the supportive trendline. Unfortunately, the price moved slightly to the lowerside and is now below 23.6% fib level. While the price remains below this level, we expect nothing but a possible momentum to the lowerside. This bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break beyond 38.2% fib level towards 50.0% fib level A bounce from 38.2% fib level will be a good place to pick a buy from.
Trade Recommendations:
Expect further momentum to the lowerside.
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.
