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Remain short towards 1.16249

Remain short towards 1.16249 | 16 October 2020

16 October 2020, EUR/USD

Remain short towards 1.16249

Wave Analysis

During the previous trading day, Euro continued significantly to the lowerside and is still showing signs of continuing to the lowerside. While we continue to see sustenance below the supportive trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of an impulsive wave count and should push the price much lower towards 1.13515. If you are on this chart now, keep looking for long term sell positions towards 1.13515.

Trade Recommendations:

Remain short towards 1.16249

Bob Stan
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