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Wait for a sell from around 1.18978.

Wait for a sell from around 1.18978. | 17 August 2020

17 August 2020, EUR/USD

Wait for a sell from around 1.18978.

Wave Analysis

Last week, the corrective wave (b) continued to the upperside but is yet to hit our target set around 1.18978, we are waiting for a bounce from 1.18978 to pick a sell position. The anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lowerside and should break below 1.17057 towards 1.15630 or even lower. This view will only be invalidated in case the price breaks and closes above the upper line 1.18978, this will be a good confirmation that we are continuing to the upperside.

Trade Recommendations:

Wait for a sell from around 1.18978.

Bob Stan
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