Wait and sell a rebound from 50.0% fib level towards 1.16242.

19 4月 2021, EUR/USD

Wait and sell a rebound from 50.0% fib level towards 1.16242.
Wave Analysis
Euro is currently in a correction mode. After establishing a swing low around 1.17365, Euro has made 50.0% pullback. We are watching for a clear rebound from this fib level to pick a possible long term sell position towards 1.16242. And should the price breakout below 1.16242, then further momentum much lower is expected with an ultimate target around 1.12780. And on the other side, should the price pull back towards 61.8% fib level, then further momentum to the upperside is expected.
Trade Recommendations:
Wait and sell a rebound from 50.0% fib level towards 1.16242.

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Graham Osano
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