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Wait for a resell from 1.22218 towards 1.21270.

Wait for a resell from 1.22218 towards 1.21270. | 13 January 2021

13 January 2021, EUR/USD

Sell a rebound from 1.21765.

Wave Analysis

Yesterday, Euro pulled back to the upper side but could not break beyond 1.22218. As long as we continue to see sustenance below this level, we are watching for a rebound from it to pick a possible long term sell position expecting price to break and close below 1.21270. If you are on this chart now, keep looking for more momentum to the lower side expecting a surge beyond 1.21270. On the flip side, if the price breaks and closes above 1.2218, then further momentum to the upper side is expected towards 1.22648.

Trade Recommendations:

Wait for a resell from 1.22218 towards 1.21270.

Bob Stan
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