EURO50 Wave Analysis 15 October, 2020

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• EURO50 falling inside impulse waves (iii) and 3

• Likely to reach 3100.00

EURO50 index continues to fall inside the accelerated impulse waves (iii) and 3 which previously broke the daily up channel from the end of September.

Both of the impulse waves (iii) and 3 belong to the higher-order downward impulse sequence (3) from the middle of July.

EURO50 is likely to fall further toward the next support level 3100.00 (low of the previous daily Hammer from the end of September).

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