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We're waiting to buy a rebound from 1.17128 to pick a low risk buy position.

We're waiting to buy a rebound from 1.17128 to pick a low risk buy position. | 18 August 2021

18 August 2021, EUR/USD

We're long towards 1.23035

Wave Analysis

During the previous trading day, euro rallied to the lower side but is currently bouncing off of a significant support level 1.17128. As long as the price does not clearly remain above this level, we expect nothing but a possible momentum to the upperside with the next ideal target set around 1.23035 and may extend much higher. If the price breaks below the same level, then further momentum to the lowerside is expected with the next ideal target set at 1.06069

Trade Recommendations:

We're waiting to buy a rebound from 1.17128 to pick a low risk buy position.

Bob Stan
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