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Remain long towards 1.10055.

Remain long towards 1.10055. | 21 May 2020

21 May 2020, EUR/USD

Remain long towards 1.10055.

Wave Analysis

Earlier today, Euro pulled back to the lower side but is still above the 52 Simple Moving Average, as long as the price is held above this ma, I expect nothing but a possible momentum to the upper side, the anticipated bearish price rally is the continuation of the impulsive wave (v) to the upper side and should break above 1.09930 towards 1.10055 or even higher. This view remains valid as long as the price is held above the ma, should the price break and close below the 50 day simple moving average, then I may consider a possible sell position.

Trade Recommendations:

Remain long towards 1.10055.

Bob Stan
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