Wait for a buy from the inner supportive trendline towards 1.20100. | 02 September 2020

02 September 2020, EUR/USD

Wave Analysis

Yesterday, Euro bounced off nicely from the upper trendline, headed straight to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As it is now, we are expecting a possible momentum to the lowerside towards the supportive trendline. If the price breaks and close below the supportive trendline, then we expect a possible momentum to the lowerside. A bounce from the supportive trendline will give us a good buy opportunity with an ultimate target set around 1.20100.

Trade Recommendations:

Wait for a buy from the inner supportive trendline towards 1.20100.

Bob Stan
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