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We're waiting for a rebound from around 1.09240 to pick a low risk buy position towards 1.38515.

We're waiting for a rebound from around 1.09240 to pick a low risk buy position towards 1.38515. | 05 October 2021

05 October 2021, EUR/USD

We're waiting for a rebound from around 1.09240 to pick a low risk buy position towards 1.38515.

Wave Analysis

During the previous trading day, nothing much happened on Euro, it pulled back slightly to the upperside, however, as we mentioned during the trading day, we are looking forward to a possible bearish correction to the lowerside but should not go beyond the supportive trendline. If the price bounces off from this trendline, then this will be a good place to consider a possible long term buy position, we're expecting the last impulsive wave (c) to break beyond the end of the impulsive wave (a), and should head straight towards 1.3850225.

Trade Recommendations:

We're waiting for a rebound from around 1.09240 to pick a low risk buy position towards 1.38515.

Bob Stan
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