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Buy a rebound from the zone 1.21426 towards 1.23705.

Buy a rebound from the zone 1.21426 towards 1.23705. | 14 January 2021

14 January 2021, EUR/USD

Buy a rebound from the zone 1.21426 towards 1.23705.

Wave Analysis

Euro continues to correct itself to the lowerside but is currently above 1.21585-1.21426. As long as the price remains above this zone, we choose to focus only on the buy positions. The idea is to watch for a rebound from this zone to pick a possible long term buy position expecting price to break above 1.23705. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should break and close above 1.23705. This view can only be invalidated in case the price breaks and close below 1.21426.

Trade Recommendations:

Buy a rebound from the zone 1.21426 towards 1.23705.

Bob Stan
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