16 November 2020, EUR/USD
Wave Analysis
Euro remains within the range 1.19044-1.16184 despite the previous week's forecast that the price may break below 1.16184. As it is on this chart, we are expecting a possible breakout above 1.19044 to pick a possible long long term buy position expecting a possible rally towards 1.2564 and could extend much higher. If you are looking at this chart now, wait and buy a breakout above 1.19044 with an ultimate target set at 1.356 and could extend higher. At this point sell positions looks risky and may not be recommended.
Trade Recommendations:
Buy a breakout above 1.19044 towards 1.3564.