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Wait for a pullback to pick a buy position.

Wait for a pullback to pick a buy position. | 04 December 2020

04 December 2020, EUR/USD

Wait for a pullback to pick a buy position.

Wave Analysis

Earlier this month, Euro rallied sharply to the upperside and even closed above the level 1.19334. While we continue to see sustenance above 1.19334, we are looking for possible long term buy position towards 1.234 and may breakout much higher towards 1.23545. What may happen on this chart is that the price may pullback to the lowerside but should not go beyond the the level 1.19334, a close below this line may culminate into a possible rally towards the next level set around 1.16206.

Trade Recommendations:

Wait for a pullback to pick a buy position.

Bob Stan
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