We're temporarily on the sidelines. | 19 10月 2021

19 10月 2021, EUR/USD

We're temporarily on the sidelines.

Wave Analysis

During the previous trading day, Euro rallied to the upperside and is now above 1.16350, while we continue to see sustaince above this level, we are buyers. The idea here is to watch for a close below 1.16350 to pick a possible long term sell position towards 1.14113. However, in case the price breaks and closes above the same level, then further momentum to the upperside is expected with a ideal target set around 1.18854. A break above this level will push the price much higher with the next ideal target set around 1.22680 and may extend much higher. On this chart, sell positions still look ideal and can safely be recommended.
Trade Recommendations:
We're temporarily on the sidelines.
Bob Stan
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