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Look for sell positions towards the lower trendline.

Look for sell positions towards the lower trendline. | 04 November 2020

04 November 2020, EUR/USD

Look for sell positions towards the lower trendline.

Wave Analysis

After a pullback to the upperside, Euro could not break above 1.17121. While the price remains below 1.17121-1.17042, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and may breakout below the supportive trendline towards 1.14060. If the price bounces off from the supportive trendline, then we will be expecting a possible rally to the uppperside but should no go beyond 1.17121.

Trade Recommendations:

Look for sell positions towards the lower trendline.

Bob Stan
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