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Sell a rebound from the upper trendline towards the lower trendline.

Sell a rebound from the upper trendline towards the lower trendline. | 17 December 2020

17 December 2020, EUR/USD

Sell a rebound from the upper trendline towards the lower trendline.

Wave Analysis

EURO is currently trading within an expanding wedge formation. On this chart, we are waiting for a bounce from the upper trendline to pick a possible long term sell position towards the lower trendline. And in case the price breaks and close above the upper trendline then further momentum to the upperside is expected. A rebound from the upper trendline will be a good place to consider a possible sell position expecting price to continue to the lowerside with the next ideal target set along the lower trendline.

Trade Recommendations:

Sell a rebound from the upper trendline towards the lower trendline.

Bob Stan
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