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While the price is held above 23.6% fib level look for buy position.

While the price is held above 23.6% fib level look for buy position. | 07 July 2020

07 July 2020, EUR/USD

Wave Analysis

Euro established a swing high around 1.14290, we expected a possible bearish correction towards 50.0 % fib level but the price bounced off from around 1.11800. As long as the price remains above this level, I expect a possible momentum towards the swing high and could breakout to the upper side. This should be the continuation of the last impulsive wave (V) and may end up breaking above 1.14290 towards 1.156 or even higher. If you are on this chart now, look for buy positions.

Trade Recommendations.

While the price is held above 23.6% fib level look for buy position.

Bob Stan
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