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Remain short towards 1.204.

Remain short towards 1.204. | 18 January 2021

18 January 2021, EUR/USD

Remain short towards 1.204.

Wave Analysis

Euro continues to rally to the lower side perfectly as previously forecasted. As long as the price remains below 1.21185, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should breakout below 1.20585 towards 1.2040 or even lower. At the moment, buy positions looks a bit risky and may not be recommended unless we see a rise beyond 1.21785, if this is the case, then a move much higher is expected.

Trade Recommendations:

Remain short towards 1.204.

Bob Stan
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