EURUSD Rebound likely

21 January 2021

EURUSD has been trading in an uptrend as confirmed by the longer term and higher timeframe charts; however it has experienced correction since the first week of January 2021 and currently stands at the 38.2% retracement of the rise experienced since November 2020 to January 2021. It would be prudent to say that the Euro could rebound towards 1.2175 and 1.2200 if it sustains above 1.2050.

Prepared by
Technical Analysis Team

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