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Remain short towards 1.16249.

Remain short towards 1.16249. | 13 October 2020

13 October 2020, EUR/USD

Remain short towards 1.16249.

Wave Analysis

Nothing much happened on this pair during the previous trading day, rather, Euro struggled below the upper trendline and is still pretty much below it. While we continue to see sustenance below this level, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally will be the continuation of a corrective wave count and could see price break below the lower trendlne towards 1.16249 towards 1.13020 or even lower. In case of a breakout above the upper trendline, then much momentum to the upperside is expected.

Trade Recommendations:

Remain short towards 1.16249.

Bob Stan
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