Look for sell positions towards 1.16249. | 19 Oktober 2020

19 Oktober 2020, EUR/USD

Look for sell positions towards 1.16249.

Wave Analysis

After establishing a swing high around 1.18200. Euro rallied to the lowerside but could not go below 1.16249. As it is now, we are expecting a possible breakout below this level to push the price further to the lowerside with an ultimate target set around 1.14535. And on the flipside, should the price breakout above the swing high, then further momentum to the upperside will be expected towards 1.19590. A breakout above this level will push the price much higher with an ultimate target at 1.20100.

Trade Recommendations:

Look for sell positions towards 1.16249.

Bob Stan
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