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Remain short with your take profit at 1.09330.

Remain short with your take profit at 1.09330. | 23 January 2020

23 January 2020, EUR/USD

Wave Analysis

Instead of continuing to the lower side, Euro pulled back to the upper side but is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below 1.10952, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of an impulsive wave count and could go beyond 1.09330. This view can only be invalidated in case the price breaks and closes above the upper trend line, if this is the case, then a momentum much higher is expected.

Trade Recommendations:

Remain short with your take profit at 1.09330.

Bob Stan
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