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Wait | 23 October 2020

23 October 2020, EUR/USD

Wave Analysis

Yesterday, Euro rallied massively to the lowerside and even went below the 23.6% fib level. On this chart, we still expect further momentum to the lowerside and should breakout below 38.2% fib level but should not go beyond 50.0% fib level. On this chart, we are looking for long term buy positions with an ultimate target set around 1.19392. A breakout and close above this level will push the price massively to the upperside with an ultimate target set around 1.19950. On the lowerside, only a breakout below the lower trendline will push the price much lower towards 1.16120.

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Bob Stan
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