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Wait for a sell towards the lower trendline.

Wait for a sell towards the lower trendline. | 18 September 2020

18 September 2020, EUR/USD

Wait for a sell towards the lower trendline.

Wave Analysis

Yesterday, EURUSD rallied to the upperside and is now able to breakout above the upper trendline. As long as the price remains below the upper trendline, we are waiting for a clear rebound from the upper trendline to pick a low risk sell position with an ultimate target around 1.17190. And should the price breakout above the upper trendline, then further momentum to the upperside is expected with an ultimate target around 1.19960. A breakout above this level, then further momentum upwards is expected.

Trade Recommendations:

Wait for a sell towards the lower trendline.

Bob Stan
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