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Look for low risk buy positions towards 1.21960.

Look for low risk buy positions towards 1.21960. | 09 December 2020

09 December 2020, EUR/USD

Look for low risk buy positions towards 1.21960.

Wave Analysis

Euro is currently in an active up trend. While the price remains above the blue Alligator line, we expect nothing but a possible momentum to the upperside and should breakout above 1.21760. The Anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 1.21760 towards 1.21960. This upward rally is supported by the fact that the price just broke above the little wedge formation. This view will only be invalidated in case the price breaks below the lower blue line.

Trade Recommendations:

Look for low risk buy positions towards 1.21960.

Bob Stan
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