05 Oktober 2020, EUR/USD
Technical Observetion
EURUSD is currently rallying around 1.16893. On the 1 Hour Chart , the previous candle closed below the previous 52 Period Exponential Moving Average, but is still within the previous day's range. if the price breaks below the previous day's lowest low, then this will be a good place to consider a possible long term sell position. But, while we continue to see a sustained move below the 52 EMA we expect a surge much lower with an Ideal Target at 1.1.16795. At this point, Sell Positions looks ideal and can be recommended with an ideal take profit 1.16948.
Trade Recommendations
Sell a bounce from 1.17635 with a target at 1.16948.