Wait | 05 November 2020

05 November 2020, EUR/USD

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Wave Analysis

During the previous trading day, Euro went as low as 1.16239 but ended up closing beyond 1.17121. There appears to be a lot of uncertainties on this pair, due to the uncertainties of the US Elections. We're waiting for the Elections results, then we may see a continuation upwards towards the upper trendline, or a break below 1.17121 to pick a low risk sell position towards 1.16239. If the price breaks and closes below 1.16239, then this will be a good place to consider a possible long term sell position towards the lower trendline.

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Bob Stan
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