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We're waiting for a sell from 1.1623 with an ideal target set at 1.1575.

We're waiting for a sell from 1.1623 with an ideal target set at 1.1575. | 28 October 2021

28 October 2021, EUR/USD

We're waiting for a sell from 1.1623 with an ideal target set at 1.1575.

Wave Analysis:

During the previous trading day, Euro bounced off from the resistance zone 1.1623-1.1621. As long as the price does not clearly break and close above this zone, this remains to be a good place to consider a possible long term sell position. The anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lower side and should see the price break below 1.1595 towards 1.157 and may continue much lower.

Trade Recommendations:

We're waiting for a sell from 1.1623 with an ideal target set at 1.1575.

Bob Stan
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