28 Agustus 2020, EUR/USD
Wave Analysis
Euro is currently bouncing off of a significant resistance level 1.18766. While the price is not able to successfully close above 1.18766, we are waiting for a clear sign of rejection from this level to pick a low risk sell position towards 1.17714. Should the price breaks and closes above 1.18766, then this will be a good place to consider a possible long term buy position towards 1.19495. A break beyond this level will mean we are continuing to the upper side with an ultimate target around 1.215.
Trade Recommendations:
Wait for a sell from around 1.18766.