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Wait for a possible buy from around 38.2% fib level with your take profit at 1.152.

Wait for a possible buy from around 38.2% fib level with your take profit at 1.152. | 24 June 2020

24 June 2020, EUR/USD

Wait for a possible buy from around 38.2% fib level with your take profit at 1.152.

Wave Analysis

Yesterday, EURUSD established a swing high around 1.13485. The pair then pulled back to the lower side but could not break below 1.13050. As long as the price remains below this high, we are waiting for price to correct itself to the lower side but should not go beyond 38.2% fib level, and should the price break and close below this level, then further momentum to the lower side is expected towards 50.0% fib level. A break and a close above the swing high will mean we are continuing upwards towards 1.152.

Trade Recommendations:

Wait for a possible buy from around 38.2% fib level with your take profit at 1.152.

Bob Stan
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