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Buy a breakout above 1.19044 towards 1.3564.

Buy a breakout above 1.19044 towards 1.3564. | 16 November 2020

16 November 2020, EUR/USD

Remain short towards 1.16184.

Wave Analysis

Euro remains within the range 1.19044-1.16184 despite the previous week's forecast that the price may break below 1.16184. As it is on this chart, we are expecting a possible breakout above 1.19044 to pick a possible long long term buy position expecting a possible rally towards 1.2564 and could extend much higher. If you are looking at this chart now, wait and buy a breakout above 1.19044 with an ultimate target set at 1.356 and could extend higher. At this point sell positions looks risky and may not be recommended.

Trade Recommendations:

Buy a breakout above 1.19044 towards 1.3564.

Bob Stan
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