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Wait | 19 November 2019

19 November 2019, EUR/USD

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Wave Analysis

Perfectly previously forecasted, euro corrected itself to the upper side and is currently showing signs of breaking above the level 1.1074. This is a key zone, and as long as the price is not able to break it to the upperside, any clear bounce from it will be an an end to the corrective three wave cycle and could be the beginning of another bearish impulsive five wave cycle and could see price continue to the lowerside with an ultimate target at 1.1000. This view can only be invalidated in case the price breaks and closes above 1.1074.

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Bob Stan
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