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Wait and sell a rebound from the upper trendline with your target at 1.20095.

Wait and sell a rebound from the upper trendline with your target at 1.20095. | 27 January 2021

27 January 2021, EUR/USD

Wait and sell a rebound from the upper trendline with your target at 1.20095.

Wave Analysis

As previously anticipated, we are currently seeing a correction to the upperside, we don't expect a breakout above the upper trendline. If the price rebounds from the upper trendline, then this will be a good place to consider a possible long term sell position.The anticipated sell position is the continuation of the last impulsive wave (E) to the lowerside and should break below 1.20310 towards 1.19. And in case the price breaks and closes above the upper trendline, then we will be looking for long term buy positions.

Trade Recommendations:

Wait and sell a rebound from the upper trendline with your target at 1.20095.

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