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Remain long towards 1.23950.

Remain long towards 1.23950. | 10 February 2021

10 February 2021, EUR/USD

Remain long towards 1.23950.

Wave Analysis

During the previous trading day, Euro continued to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As it is now, we are waiting for a breakout above the zone 1.21756-1.21561 to pick a possible low risk buy position towards 1.23280. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should breakout above 1.23950 towards 1.24. On the flipside, this view can only be invalidated in case the price breaks below 1.19930.

Trade Recommendations:

Remain long towards 1.23950.

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