Remain long towards 1.09918. | 20 May 2020
20 May 2020, EUR/USD
Wave Analysis
Just as previously forecasted, euro broke above the upper trendline and is still above this trendline, while the price continues to sustain itself above the upper trendline, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (iii) to the upperside and should break above 1.09518 towards 1.11400 or even higher. This view can only be invalidated in case the price breaks and closes bellow the same trendline, should this happen, then we expect a possible momentum towards 1.07324.
Trade Recommendations:
Remain long towards 1.09918.
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.
