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Waiting for a low risk sell position towards 50.0% fib level.

Waiting for a low risk sell position towards 50.0% fib level. | 02 October 2020

02 October 2020, EUR/USD

Waiting for a low risk sell position towards 50.0% fib level.

Wave Analysis

On this chart, we continue to see struggling below the upper trendline. While the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lowerside and should breakout below 38.2% fib level towards 50.0% fib level. This bearish move will only be invalidated in case the price breaks above the upper trendline, if this is the case, then further momentum to the upperside is expected.

Trade Recommendations:

Waiting for a low risk sell position towards 50.0% fib level.

Bob Stan
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