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Wait | 20 October 2020

20 October 2020, EUR/USD

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Wave Analysis

The Euro continues to rally below the swing high 1.18250. As long as the price remains below this swing high, we expect nothing but a possible momentum to the lower side. If you are looking at this chart now, wait for price to bounce off from the upper trend line to pick a low risk sell position. And should the price breaks below the level 1.16249, then this will be a good place to consider a possible long term sell position with an ultimate target set around 1.15030 and could breakout much lower towards 1.14825.

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Bob Stan
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