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Remain short with an ultimate target around 1.8590.

Remain short with an ultimate target around 1.8590. | 29 January 2020

29 January 2020, EUR/USD

Remain short with an ultimate target around 1.8590.

Wave Analysis

During the previous trading day, Euro closed as a possible Bullish pin bar. As long as the price is not able to clear break and close below 1.09780, we expect a possible bounce from this level to pick a long term buy order towards the upper trend line. Should the price break below the level 1.09780, we expect nothing but a possible momentum to the lower side towards 1.08590. The anticipated bearish price rally is the continuation of an impulsive wave count and could see the price break below 1.07895.

Trade Recommendations:

Remain short with an ultimate target around 1.8590.

Bob Stan
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