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Remain short with an ultimate target around 1.09330.

Remain short with an ultimate target around 1.09330. | 24 January 2020

24 January 2020, EUR/USD

Remain short with an ultimate target around 1.09330.

Wave Analysis

Just as previously forecasted, euro continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the upper trend line, we expect nothing but a possible momentum to the lower side. As we mentioned during the previous trading day, the anticipated bearish price rally is the continuation of an impulsive wave count and could see the price break below 1.1000 towards 1.09300 towards 1.08643. This view can only be invalidated in case the price breaks and closes above the upper trend line.

Trade Recommendations:

Remain short with an ultimate target around 1.09330.

Bob Stan
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