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Remain short with your target at 1.17063.

Remain short with your target at 1.17063. | 29 October 2020

29 October 2020, EUR/USD

Remain short with your target at 1.17063.

Wave Analysis

Just as previously expected, Euro continued to the lowerside but is still above 1.17063. As it is now, we are expecting a possible rally towards this support but should not breakout any lower. If the price breaks and closes below this support level, then we will be looking at a possible scenario when the price could continue downwards towards 1.16200. On the flipside, a rebound from 1.17063 will push the price to the upperside with our first target being 1.18570 and the next target fixed at 1.19660.

Trade Recommendations:

Remain short with your target at 1.17063.

Bob Stan
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