01 February 2021, EUR/USD
Wave Analysis
During the previous week, nothing much happened on Euro, the price consolidated within a wider range, right now, if the price can break and close below the lower trendline, then this will be an ideal place to consider a possible long term sell position. The anticipated bearish price rally is the continuation of a corrective wave count and could see price break and close below 1.20440. If you are looking at this chart, wait for a break below the immediate lower trendline then pick a long term sell position with your target at 1.20545.
Trade Recommendations:
As long as the price remains below the lower trendline, look for long term sell positions towards 1.20545.
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