15 February 2021, EUR/USD
Wave Analysis
After establishing a swing high around 1.23306, Euro pulled back to the lower side but could not go beyond the 66.0% fib level. The pair however, touched the daily support zone marked 1.19599-1.319. As long as the price is held above this zone, we are looking for nothing but a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should break and close above 1.23795 towards 1.24 or even higher. On the flip side, should the price break below 1.19599, then we will be waiting for break below 66.0% fib level towards the lower side.
Trade Recommendations:
Remain long towards 1.23795.
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