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Remain long towards 1.1524.

Remain long towards 1.1524. | 10 June 2020

10 June 2020, EUR/USD

Remain long towards 1.1524.

Wave Analysis

During the previous trading day, the impulsive wave (v) continued to the upper side and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the two simple moving averages 50 and 200, we expect further momentum to the upper side and should break above 1.13850. A break beyond this level will push the price much higher towards 1.1521 or even higher. As it is now, we are waiting for a pullback to the lower side to pick a low risk buy position with an ultimate target around 1.1542.

Trade Recommendations:

Remain long towards 1.1524.

Bob Stan
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