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Buy a breakout above the level 1.11825.

Buy a breakout above the level 1.11825. | 04 November 2019

04 November 2019, EUR/USD

Wave Analysis

According to the MACD Oscillator, Euro could be headed to the uppers ode, however, based on the candles above, we're waiting for a clear breakout above the hourly resistance 1.11825 to confirm that we're continuing to the upper side with an ultimate target at 1.1245. The anticipated bullish price rally is the continuation of the impulsive wave (3) to the upper side and should first break above 1.11825 before a move even higher can be seen, this view can only be invalidated in case the price bounce off from 1.11825.

Trade Recommendations:

Buy a breakout above the level 1.11825.

Bob Stan
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