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We're upwards towards the upper trendline.

We're upwards towards the upper trendline. | 12 March 2021

12 March 2021, EUR/USD

We're upwards towards the upper trendline.

Wave Analysis

Last week, Euro bounced off from the zone 1.18543-1.18343, headed to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As it is now, we are expecting a possible momentum to the upperside towards the upper trendline. If the price bounces off from the upper trendline then this will be a good place to consider a possible long term sell position towards 1.1853. A break and close above the upper trendline will mean we are continuing to the upper side with an ultimate target set at 1.23480.

Trade Recommendations:

We're upwards towards the upper trendline.

Bob Stan
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