Remain short towards 1.15590. | 11 August 2020

11 August 2020, EUR/USD

Remain  short towards 1.15590.

Wave Analysis

After a bounce from 1.19060, Euro moved to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As it is now, we are expecting a possible momentum even further to the lower side with an ultimate target around 1.15160. A bounce from 1.17051 will give an a good buy opportunity. But, now, we are expecting a possible continuation of the current correction to the lower side and should break below 1.15590. A breakout above 1.19060 will push us higher.

Trade Recommendation:

Remain short towards 1.15590.

Bob Stan
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