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Waiting for a possible buy position towards 1.14630.

Waiting for a possible buy position towards 1.14630. | 17 July 2020

17 July 2020, EUR/USD

Waiting for a possible buy position towards 1.14630.

Wave Analysis

During the previous trading day, Euro went slightly lower than expected and even went below the upper trend line but is now above the verified support level 1.13775. As long as the price does not clearly break and close below this support, we choose to remain flat for now, instead, we are waiting for a clear bounce to pick a possible buy position towards 1.14775. And should the price break and close below 1.13630, then further momentum to the lower side is expected with an ideal target around 1.12775.

Trade Recommendations:

Waiting for a possible buy position towards 1.14630.

Bob Stan
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