29 January 2021, EUR/USD
Wave Analysis
Yesterday, we saw a steep surge to the lowerside but still the price could not reach our target level set at 1.20530. As it is now, we are in the sellers mode, we are basically looking for a breakout below 1.20530 to pick further momentum to the lowerside and should breakout below 1.20370 towards 1.192 or even lower. If the price pulls back upwards towards the upper trendline, then the best place to consider another possible sell position. And in case the price breaks and closes above the upper blue line, then further momentum much higher is expected.
Trade Recommendations:
Wait and sell a rebound from the upper trend line towards 1.20370
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