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Waiting for a buy from the supportive trend line.

Waiting for a buy from the supportive trend line. | 01 July 2020

01 July 2020, EUR/USD

Waiting for a buy from the supportive trend line.

Wave Analysis

Euro is currently rallying within a contracting wedge formation. As long as the price remains within this range, we're waiting for a bounce from the upper trendline to pick a sell and a bounce from the lower trend line to pick a buy. A breakout above the upper trendline will mean we are continuing to the upper side with our next ideal target around 1.14350. And on the other side, should the price break and close below the supportive trend line, then further momentum to the lower side is expected towards 1.11280.

Trade Recommendations:

Waiting for a buy from the supportive trend line.

Bob Stan
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