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Wait for a possible sell position from 50.0% fib level.

Wait for a possible sell position from 50.0% fib level. | 05 February 2021

05 February 2021, EUR/USD

Wait for a possible sell position from 50.0% fib level.

Wave Analysis

Euro is currently in an active down trend. As long as the price remains below the Alligator indicator attached, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the last impulsive wave (v) to the lowerside and should break below 1.19365 towards 1.1820 or even lower. If the price pulls back to the upperside, then the best place to consider a possible sell position is from 38.2% fib level, a breakout above this fib will mean we'll be looking for a sell from 50.0% fib level.

Trade Recommendations:

Wait for a possible sell position from 50.0% fib level.

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