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Buy a rebound from 1.1459.

Buy a rebound from 1.1459. | 08 August 2018

08 August 2018, EUR/USD

Buy a rebound from 1.1459.

Wave Analysis

Instead of rallying to the lower side, euro has been correcting itself to the upper side, but is yet to reach the previous week's opening price. During this trading day and possibly in the next few days, we expect further correction to the upper side but should not go beyond 1.1659. If you're not already in a short position, you can wait and sell euro upon a rebound from 1.1659. With this short position, your take profit should be at 1.14593. If you're skeptic with this short position, you can wait and buy a rebound from 1.1459.

Trade Recommendation:

Buy a rebound from 1.1459.

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