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Expect a possible double top formation around 1.11750.

Expect a possible double top formation around 1.11750. | 01 November 2019

01 November 2019, EUR/USD

Wave Analysis

Just as in he cable, Euro rose significantly but is currently pulling back to the lowerside. As long as the price is contained below 1.11750, we expect a possible double top formation around 1.1175. This view can only be invalidated in case the price breaks above 1.1175, if this is the case, that the price has gone above 1.11750, then this will mean we're continuing upwards with the immediate impulsive five wave cycle and could see price rise up to as high ah 1.1212 before a correction is seen.

Trade Recommendations:

Expect a possible double top formation around 1.11750.

Bob Stan
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