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Remain short towards 1.19625.

Remain short towards 1.19625. | 22 February 2021

22 February 2021, EUR/USD

Remain short towards 1.19625.

Wave Analysis

After establishing a pick around 1.22860, Euro pulled back to the lower side and is still pretty much bearish both on the daily and on the weekly charts. If you are looking at this chart now, keep looking for long term sell positions expecting a rally towards the daily support zone 1.19625-1.19270. If the price breaks and closes below this zone, then we will be looking for further momentum to the lower side with an ultimate target set at 1.16464. A break below this level will push the price much lower.

Trade Recommendations:

Remain short towards 1.19625.

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