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Look for long term sell positions towards 1.16141.

Look for long term sell positions towards 1.16141. | 15 October 2020

15 October 2020, EUR/USD

Look for long term sell positions.

Wave Analysis

Yesterday, nothing much happened on this pair. The the previous day's candle closed as a Doji candle. As it is now, we are looking a possible long term sell position towards 23.6% fib level with an ideal target set around 1.16141. A breakout below this level will push the price much lower with an ultimate target set around 1.1200 or even lower. On the upper side, only a breakout above 50.0% fib level may imply a possible move to the upper side with ultimate target set around 1.20099.

Trade Recommendations:

Look for long term sell positions towards 1.16141.

Bob Stan
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