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Remain short with an ideal targer around 1.08315.

Remain short with an ideal targer around 1.08315. | 27 January 2020

27 January 2020, EUR/USD

Wave Analysis

During the previous trading weeks, euro bounced off from the upper trend line and is still pretty much bearish both on the daily and on the weekly charts. following the previous week's decline in price, we expect further momentum to the lower side and should break below 1.09160. This view will only be invalidated in case the price breaks and closes above the upper trend line, if this is the case, then further momentum to the upper side is expected towards 1.14230. A break below 1.09160 will push the price much lower.

Trade Recommendations:

Remain short with an ideal targer around 1.08315.

Bob Stan
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