Remain long towards 1.22100. | 04 Agustus 2020

04 Agustus 2020, EUR/USD

Remain long towards 1.22100.

Wave Analysis

During the previous trading day, Eurusd closed perfectly as a continuation candle. As long as the price remains above the Alligator indicator attached, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (E) to the upper side and should break above 1.2000 towards 1.21 or even higher. Selling or holding onto a sell position on this pair looks a bit risky and may not be recommended, unless the price breaks below 1.14483.

Trade Recommendations:

Remain long towards 1.22100.

Bob Stan
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