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Wait for a possible rebound from 1.20034-1.19837 to pick a possible sell position towards 38.2% fib level.

Wait for a possible rebound from 1.20034-1.19837 to pick a possible sell position towards 38.2% fib level. | 15 April 2021

15 April 2021, EUR/USD

Wait for a possible rebound from 1.20034-1.19837 to pick a possible sell position towards 38.2% fib level.
Wave Analysis
For almost three weeks now, Euro has been in an active up trend. As it is now, the price is currently approaching a significant resistance zone 1.20034-1.19837. While the price is not able to clearly breakout above this zone, we are waiting for a sell from it. A breakout above it will push the price much higher towards 1.22440. However, a rebound from it will give us a good place to consider a possible long term sell position expecting the price to breakout below 23.6% fib level towards 61.8% fib level.
Trade Recommendations:
Wait for a possible rebound from 1.20034-1.19837 to pick a possible sell position towards 38.2% fib level.

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