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Sell a bounce from 1.19334-1.18875 towards 1.16030.

Sell a bounce from 1.19334-1.18875 towards 1.16030. | 19 November 2020

19 November 2020, EUR/USD

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Wave Analysis

Euro is still being contained below 1.18875-1.19334. While we see sustenance below this zone, we are looking for long term sell positions. the anticipated bearish price rally is the continuation of a correction to the lowerside and could see price break below 1.17400 towards 1.16030 or even lower. And on the flipside, should the price breakout above 1.19334, then this will be a good place to consider a possible long term buy position expecting price to continue even higher towards 1.254.

Trade Recommendations:

Sell a bounce from 1.19334-1.18875 towards 1.16030.

Bob Stan
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