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Waiting for a retracement back towards 1.1070 to pick a long term sell order.

Waiting for a retracement back towards 1.1070 to pick a long term sell order. | 11 November 2019

11 November 2019, EUR/USD

Waiting for a retracement back towards 1.1070 to pick a long term sell order.

Wave Analysis

Last week, Euro successfully broke below the supportive trendline and is still pretty much below this trendline. As long as the price remains below his trendline,w e expect nothing but a possible continuation of the impulsive wave (c) to the lowerside and should break below 1.0990. Conservative traders should wait for price to either retrace back towards 1.1070 to pick a long term sell order Or the price should break below 1.0990 before picking a long term sell order. With this order, we expect the price to continue even lower towards 1.0910.

Trade Recommendations:

Waiting for a retracement back towards 1.1070 to pick a long term sell order.

Bob Stan
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