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Waiting for a possible long term sell order towards 1.0755.

Waiting for a possible long term sell order towards 1.0755. | 03 February 2020

03 February 2020, EUR/USD

Waiting for a possible long term sell order towards 1.0755.

Wave Analysis

Our stops were taken out when the price pulled back upwards and even closed above 1.10540, we expect the current bullish price rally to be the continuation of a corrective wave (b) and could see the price break above the upper trend line. However, should the price bounce off from this trend line, then this will be a good place to consider a long term sell order. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 1.08550 towards 1.07555.

Trade Recommendations:

Waiting for a possible long term sell order towards 1.0755.

Bob Stan
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