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Sell euro towards 1.08295.

Sell euro towards 1.08295. | 31 January 2020

31 January 2020, EUR/USD

Sell this pair with your take profit at 1.08295.

Wave Analysis

Despite the previous forecast that this pair could continue to the lower side, euro pulled back to the upper side but is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the Alligator indicator attached, we expect a possible momentum to the lower side, the anticipated bearish price rally is the continuation of an impulsive five wave cycle and could see the price break below 1.08890 towards 1.00295. This view can only be invalidated in case the price breaks and closes above the upper trend line.

Trade Recommendations:

Sell euro towards 1.08295.

Bob Stan
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