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Remain short towards the lower trendline.

Remain short towards the lower trendline. | 11 November 2020

11 November 2020, EUR/USD

Remain short towards the lower trendline.

Wave Analysis

Despite the previous day's forecast, Euro could not rally to the lower side as previously forecasted, instead the price closed slightly below its opening price. As it is now, we are waiting for a possible breakout below the previous day's lowest low to pick a possible long term sell position. The anticipated bearish price rally is the continuation of an impulsive wave count and could see price break below 1.16335 towards 1.14920 or even lower. Only a breakout above the upper trendline will push the price to the upperside.

Trade Recommendations:

Remain short towards the lower trendline.

Bob Stan
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