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

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.