Expect further bearish correction towards 1.18410. | 22 Octubre 2020
22 Octubre 2020, EUR/USD
Wave Analysis
Yesterday, Euro rose massively to the upperside but could not go beyond the level 1.18850. As long as the price remains below this level, we are expecting a possible correction towards 23.6% fib level, and should the price breakout below this fib level, then we will be expect further correction to the lowerside and should break below 38.2% fib level, it should not go beyond 50.0% fib level. This view can only be invalidated in case the price breaks and closes above 1.18850, if this is the case, then a move much higher is expected.
Trade Recommendations:
Expect further bearish correction towards 1.18410.
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.
