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We're on the sidelines for now,

We're on the sidelines for now, | 04 January 2022

04 January 2022, EUR/USD

Wave Analysis

Euro is currently in a corrective mode. As long as the price remains within the contracting wedge formation, we are waiting for a clear breakout below the lower trendline to pick a possible long term sell position with an ideal target set at 1.1155. A break below the lower trendline will push the price much lower. The anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and may see the price break below 1.10 towards 1.09.

Trade Recommendations:

We're on the sidelines for now,

Bob Stan
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