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Watch for a possible sell positions from the zone 1.19334-1.18875 towards 1.16310.

Watch for a possible sell positions from the zone 1.19334-1.18875 towards 1.16310. | 25 November 2020

25 November 2020, EUR/USD

Watch for a possible sell positions from the zone 1.19334-1.18875 towards 1.16310.

Wave Analysis

Euro is currently in an active up trend. However, the price is below a significant resistance zone 1.18875-1.19334. As long as the price remains below the zone 1.19334-1.18875, we expect nothing but a possible momentum to the lowerside. A clear breakout above this zone will attract buyers which could expect price to move to the upperside with an ultimate target at 1.20180. A breakout above this zone will move the price to the upperside with an ultimate target set around 1.21.

Trade Recommendations:

Watch for a possible sell positions from the zone 1.19334-1.18875 towards 1.16310.

Bob Stan
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