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Buy a break above 1.17965 towards 1.20.

Buy a break above 1.17965 towards 1.20. | 08 October 2020

08 October 2020, EUR/USD

Buy a break above 1.17965 towards 1.20.

Wave Analysis

Earlier this week, Euro bounced off from the supportive trendline, headed straight to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the upper trendline we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should break above 1.17967 towards 1.20. On the flipside, should the price break below the supportive trendline, then we may consider a short positions.

Trade Recommendations

Buy a break above 1.17965 towards 1.20.

Bob Stan
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