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Wait for a resell from 1.09875 with your take profit at 1.0775.

Wait for a resell from 1.09875 with your take profit at 1.0775. | 27 Tháng Năm 2020

27 Tháng Năm 2020, EUR/USD

Wait for a resell from 1.09875 with your take profit at 1.0775.

Wave Analysis

During the previous trading day, the impulsive wave (5) continued to the upper side an even hit the resistance level 1.09875-1.10190. As long as the price is not able to clearly break and close above this zone, we are waiting for a second bounce from it to pick a long term sell order with an ultimate target around 1.07751-1.0755. This view will only be invalidated in case the price breaks and closes above 1.10190, if this is the case, then further momentum to the upper side is expected with an ultimate target around 1.11370. A break below 1.0755 will mean we are bearish towards 1.07175.

Trade Recommendation:

Wait for a resell from 1.09875 with your take profit at 1.0775.

Bob Stan
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