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Buy a break above the upper trendline.

Buy a break above the upper trendline. | 12 August 2019

12 August 2019, EUR/USD

Wave Analysis

Euro is currently trading within a contracting tringulor formation. This is a perfect trend continuation shape and if price can breakout above the upper trendline, then we'll expect further momentum to the upperside, The anticipated bullish price rally is the continuation of an impulsive wave count and should breakout above 1.12460 towards 1.12600 or even higher. And on the flip side, should price breakout below 1.11792,then we'll be looking for a long term sell orders with an ultimate target at 1.10500.

Trade Recommendations:

Buy a break above the upper trendline.

Bob Stan
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