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Sell a rebound from 1.21765 towards 1.20585.

Sell a rebound from 1.21765 towards 1.20585. | 16 December 2020

16 December 2020, EUR/USD

Sell a rebound from 1.21765 towards 1.20585.

Wave Analysis

During the previous trading day, Euro continued to the upperside but could not break beyond the level 1.21765. As long as the price remains below this zone, we are waiting for a bounce from it to pick a long term sell position expecting price to continue to the lowerside with an ultimate target set around 1.20585. If you are looking at this chart now, expect a possible bounce from this level to pick a possible long term sell position expecting a break beyond 1.20585 with the next ideal target at 1.18999.

Trade Recommendations:

Sell a rebound from 1.21765 towards 1.20585. A break and a close above 1.21765 will push the price to the upperside with the next ideal target seen at 1.22.

Bob Stan
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