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Remain short towards 1.20370.

Remain short towards 1.20370. | 28 January 2021

28 January 2021, EUR/USD

Remain short towards 1.20370.

Wave Analysis

Just as previously anticipated, Euro continued significantly to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the upper trendline, we expect to continue short with the impulsive wave (E) and may breakout below 1.20370 towards 1.20210. On the other side, should the price break and close above the upper trendline, then further momentum to the upperside is expected with the next ideal target set at 1.22275.

Trade Recommendations:

Remain short towards 1.20370.

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