Remain short towards 1.0874. | 06 Februari 2020

06 Februari 2020, EUR/USD

Remain short towards 1.0874.

Wave Analysis

Yesterday, Euro continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the trend line above, we expect nothing but a possible momentum to the lower side is expected. This view is supported by the fact that the MACD columns are below the 0.0, I expect further momentum towards 1.08654 and should continue much lower. This view can only be invalidated in case the price breaks above the previous day's highest high.

Trade Recommendations:

Remain short towards 1.0874.

Bob Stan
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