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Sell a rebound from 1.17945 with your target at 1.17175.

Sell a rebound from 1.17945 with your target at 1.17175. | 06 October 2020

06 October 2020, EUR/USD

Sell a rebound from 1.17945 with your target at 1.17175.

Wave Analysis

After an intense momentum to the upperside, Euro is currently around a significant diagonal trendline. A clear rebound from this trendline will mark an end to the impulsive wave (E) to the upper side and the onset of a correction to the lowerside and should breakout below 1.17735 towards 1.17245. And on the other side, should the price breakout above 1.17945, then this will be a good place to consider a possible long term buy position with an ultimate target fixed around 1.20.

Trade Recommendations

Sell a rebound from 1.17945 with your target at 1.17175.

Bob Stan
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