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Look for low risk buy positions towards 1.22745.

Look for low risk buy positions towards 1.22745. | 28 December 2020

28 December 2020, EUR/USD

Look for low risk buy positions towards 1.22745.

Wave Analysis

Last week, Euro bounced off from the lower trendline and could not breakout any lower. As long as the price does not violate the lower trendline, we are expecting a possible surge to the upperside and should not rise beyond 1.22745. If the price breaks above this line, then further momentum to the upperside is expected. And in case the price breaks and closes below the lower trendline, then we expect a possible continuation of the impulsive wave (c) to the lowerside and should breakout below 1.20925 towards 1.20925.

Trade Recommendations:

Look for low risk buy positions towards 1.22745.

Bob Stan
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