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Look for long term sell positions.

Look for long term sell positions. | 14 October 2020

14 October 2020, EUR/USD

Look for long term sell positions.

Wave Analysis

After a perfect 50.0% fib retracement, Euro continued to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. Following the bounce from the upper trendline trendline, we are looking for nothing but a possible momentum to the lowerside. We are expecting a possible impulsive wave count and should push price below the swing low. If this is the case, then further momentum much lower is expected. As it is now, buy positions are riskier and may not be recommended.

Trade Recommendations:

Look for long term sell positions.

Bob Stan
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