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Wait for a possible rebound from around 1.18 to pick a sell position with your target at 1.16249.

Wait for a possible rebound from around 1.18 to pick a sell position with your target at 1.16249. | 12 October 2020

12 October 2020, EUR/USD

Wait for a possible rebound from around 1.18 to pick a sell position with your target at 1.16249.

Wave Analysis

During the previous trading day day, Euro rose tremendously and is currently approaching the upper trendline. While the price remains below this trendline, we remain jittery to pick a buy position, But in case the price breaks and closes above this trendline, then we will be looking for a possible long term buy position with an ultimate target around 1.19590. And in case the price breaks and closes above it, then further momentum to the upperside is expected with an ultimate target at 1.20.

Trade Recommendations:

Wait for a possible rebound from around 1.18 to pick a sell position with your target at 1.16249.

Bob Stan
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