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Remain short with an ultimate target around 1.07565.

Remain short with an ultimate target around 1.07565. | 04 February 2020

04 February 2020, EUR/USD

Remain short with an ultimate target around 1.07565.

Wave Analysis

During the previous trading day, Euro continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the upper trend line, we are waiting for a bounce from the level 1.11135 to pick a possible long term sell order. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 1.09350. A break below this level will push the price much lower towards 1.07565.

Trade Recommendations:

Remain short with an ultimate target around 1.07565.

Bob Stan
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