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Wait | 24 December 2020

24 December 2020, EUR/USD

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Wave Analysis

Just as previously anticipated, Euro pulled back to the upperside but is still below the upper trendline. As long as the price remains below the upper trendline, we are looking for a possible momentum to the lowerside. The idea is to wait for a bounce from the upper trendline to pick a possible low risk sell position. The anticipated bearish price rally is the continuiation of the impulsive wave (c) to the lowerside but should not go beyond the lowerside. A close below this trendline will push the price much lower with the next ideal target at 1.20780.

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Bob Stan
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