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Wait for a possible sell position

Wait for a possible sell position | 17 September 2020

17 September 2020, EUR/USD

Wave Analysis

During the previous trading day, the impulsive wave (c) continued to the lowerside and is currently below the lower trendline. However, the price is still above the other two moving averages. On this chart, we expect a possible surge to the lowerside. In case the price remains below the lower trendline, then we will be expecting further momentum to the lowerside. A break above the upper trendline will push the price much higher towards 1.20205 and could continue much higher towards 1.21.

Trade Recommendations:

If Today's candle closes below the lower trendline, you may pick a sell towards 1.15720.

Bob Stan
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