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Look for low risk buy positions towards 1.19660.

Look for low risk buy positions towards 1.19660. | 27 October 2020

27 October 2020, EUR/USD

Look for low risk buy positions towards 1.19660.

Wave Analysis

During the previous trading day, Euro pulled back slightly to the lowerside but is still above the upper trendline. While the price remains above this trendline, we expect a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count and could see price breakout beyond 1.19660 towards 1.20165 or even higher. On the lowerside, in case the price breaks and closes below 1.17540, then we expect further momentum much lower towards 1.15790.

Trade Recommendations:

Look for low risk buy positions towards 1.19660.

Bob Stan
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