EURUSD Wave Analysis 14 January, 2021

• EURUSD reversed from resistance zone

• Likely to fall to 1,2060

EURUSD continues to fall after the pair reversed down from the resistance zone lying between the major  resistance level 1,2400 (which reversed the price multiple times at the start of 2018) and the upper weekly Bollinger Band.

The downward reversal from this resistance zone created the weekly Japanese candlesticks reversal pattern Shooting Star.

EURUSD is expected to fall further toward the next support level 1,2060 (former top of wave (A) from the middle of 2020).