Wait for a resell from 1.17630. | 02 November 2020
02 November 2020, EUR/USD
Technical Observation
Last month's candle closed as a perfect bearish continuation candle. While the price remains below 23.6% fib level, we are looking for long term sell position towards 38.2% fib level. The idea is not to look for sell positions now, rather, wait for price to pullback towards 1.17630 to pick a long term sell position towards 38.2% fib level. If the price should break below this fib, then we expect further positions to the lower side with an ultimate target set around 50.0% fib level and could breakout much lower.
Trade Recommendations:
Wait for a resell from 1.17630.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
