Expect further bearish correction towards 1.10963-1.10721. | 15 June 2020

15 June 2020, EUR/USD

Expect further bearish correction towards 1.10963-1.10721.

Wave Analysis

During late last week, Euro declined after breaking below the supportive trend line and is still showing signs of heading even lower. As long as the price remains below the Alligator indicator attached, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulse wave (c) and should break below 1.10963-1.10721 towards 1.07530. This view will only be invalidated in case the price breaks and closes above last week's highest high.

Trade Recommendations:

Expect further bearish correction towards 1.10963-1.10721.

Bob Stan
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