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A key resistance zone is seen around 1.19627-1.19354

A key resistance zone is seen around 1.19627-1.19354 | 09 Noviembre 2020

09 Noviembre 2020, EUR/USD

Wave Analysis

Euro continues to rally within an inverted Triangular formation with the base at the top 1.19627-1.19354. The best place to consider a possible sell position with an ultimate target set around the lower trendline. And in case the price breaks and closes above this zone, then this will be an ideal place to consider a possible long term by position with an ultimate target set around 1.20410 and could breakout much higher with an ultimate target fixed above 1.30. As it is now, we are looking for a sell from around 1.19354-1.19627.

Trade Recommendations:

Sell a bounce from 1.19627-1.19354 towards 1.15035.

Bob Stan
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