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Wait for a resell from 1.21587.

Wait for a resell from 1.21587. | 20 January 2021

20 January 2021, EUR/USD

Wait for a possible sell from 1.21587

Wave Analysis

Euro continues to rally to the uperside but is now around a significant resistance level 1.21587. As long as the price remains below this zone, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of a corrective wave count and could see price break below 1.20750, if this is the case, then we will be expecting further momentum much lower with the next ideal target set around 1.18910 but could breakout even lower towards 1.17890.

Trade Recommendations:

Wait for a resell from 1.21587.

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Bob Stan
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