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Expect a possible bullish correction towards 1.1030.

Expect a possible bullish correction towards 1.1030. | 28 November 2019

28 November 2019, EUR/USD

Wave Analysis

The close of the previous trading day saw euro decline massively but could not go beyond 1.0990. We expect the bounce from around 1.0999 to have marked an end to the previous impulsive five wave cycle that the current bullish price rally is the continuation of a corrective wave cycle and could see the price rise eve higher but should not go beyond 1.1030. This view can only be invalidated in case the price rally to the lowerside and breaks below the previous day's lowest low, if this the case, then a momentum to the lowerside is expected.

Trade Recommendations:

Expect a possible bullish correction towards 1.1030.

Bob Stan
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