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Buy a bounce from the supportive trendline

Buy a bounce from the supportive trendline | 14 July 2020

14 July 2020, EUR/USD

Buy a bounce from the supportive trendline

Wave Analysis

During the previous trading week, Euro remained within the ascending channel formation, while the price is held within this shape formation, we'll be waiting for a buy from the lower trendline and a sell from the upper trendline, but should the price breakout and close below the supportive trendline, then further momentum to the lowerside is expected with an ultimate target around 1.11920. But on the flip side, should the price break and close above the upper trend line, then further momentum upwards is expected.

Trade Recommendations:

Buy a bounce from the supportive trendline

Bob Stan
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