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Expect a possible breakout above 1.14520 towards 1.15.

Expect a possible breakout above 1.14520 towards 1.15. | 20 July 2020

20 July 2020, EUR/USD

Expect a possible breakout above 1.14520 towards 1.15.

Wave Analysis

Last week, the corrective wave (iv) failed to break below the 38.2% fib level, instead, this pair bounced off few pips from this level and is currently heading to the upper side, we expect the current bullish price rally to be the continuation of the impulsive wave (v) to the upper side and should break above 1.14520 towards 1.156245. And on the flip side, should the price break and close below the 23.6% fib level, then we may expect further momentum to the lower side and should head straight towards 50.0% fib level.

Trade Recommendations:

Expect a possible breakout above 1.14520 towards 1.15.

Bob Stan
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