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Remain short towards 1.16060.

Remain short towards 1.16060. | 12 August 2020

12 August 2020, EUR/USD

Wave Analysis

Earlier today, Euro bounced off from the supportive trend line but is still very much bearish both on the daily and on the weekly charts. On this chart, we are expecting a possible break below the supportive trend line to mark a continuation of the impulsive wave (c) to the lower side and should break below 1.16595 towards 1.1471. Since the previous day's candle was a perfect bearish pin bar candle, we expect nothing but a possible momentum to the lower side, you could look for sell positions but with stop losses above the previous day's highest high.

Trade Recommendations:

Remain short towards 1.16060.

Bob Stan
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