EURUSD within a descending flag formation | 06 نوفمبر 2020
06 نوفمبر 2020, EUR/USD
Wave Analysis
Euro continues to consolidate within the descending flag formation and is currently around the upper trendline. Few days ago, the price go rejected from the supportive horizontal line 1.16329, we expect this rejection to have marked an end to the last impulsive wave (c), that the current move to the upperside may not break beyond the upper trendline. As indicated above, if the price bounces off from the upper trendline, this will give us a good opportunity to consider a possible sell position towards 1.16329.
Trade Recommendations:
Look for sell positions now towards 1.16329.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
