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Remain short towards 38.2% fib level

Remain short towards 38.2% fib level | 28 Tháng Chín 2020

28 Tháng Chín 2020, EUR/USD

Remain short towards 38.2% fib level

Wave Analysis

Last week, Euro broke out of the consolidation range marked above and is now heading to the lowerside. As long as the price remains below the lower trendline and also below the 23.6% fib level, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (c) to the lowerside and should break below 38.2% fib level towards 50.0% fib level. On this chart, only sell positions looks ideal and can safely be recommended.

Trade Recommendations:

Remain short towards 38.2% fib level

Bob Stan
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