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We're short towards 1.04594.

We're short towards 1.04594. | 13 October 2023

13 October 2023, EUR/USD

We're short towards 1.04594.

Wave Analysis:

After a failed attempt to break above 1.06295, Euro could not sustain a steady move to the upperside, it instead pulled back to the lowerside and is still showing signs of continuing much lower. On this chart, we keep looking for low risk sell positions expecting a possible bearish rally with the next ideal target set at 1.04594. If this level is broken, then further momentum to the lowerside is expected with the next ideal target set at 1.03 and may likely continue to the lowerside.

Trade Recommendations:

We're short towards 1.04594.

Bob Stan
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