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Wait for a break below 1.0996 to pick a sell.

Wait for a break below 1.0996 to pick a sell. | 27 November 2019

27 November 2019, EUR/USD

Wait for a break below 1.0996 to pick a sell.

Wave Analysis

After bouncing off from the zone 1.1074-1.1091, Euro continued to the lowerside but is currently approaching a key support level 1.0996. This is a key level and while the price is not able to clearly break and close below it, we'\re waiting for a possible bounce from this trendline to pick a long term buy order. But in case the price successfully breaks and close below 1.0996, then this will give us an ideal place to consider a long term sell order towards 1.0870, on its way to the lowerside. As it is now, only sell positions can be recommended.

Trade Recommendations:

Wait for a break below 1.0996 to pick a sell.

Bob Stan
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