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Expect a possible rally towards the lower trendline.

Expect a possible rally towards the lower trendline. | 20 May 2021

20 May 2021, EUR/USD

Expect a possible rally towards the lower trendline.

Weekly Analysis

After a rebound from the upper trendline, euro rallied to the lowerside and is still pretty much bearish. As it is now, we are looking for long term sell positions towards the lower trendline. And in case the price breaks below the lower trendline, then further momentum to the lowerside is expected towards 1.2015 towards 1.19805. And in case the price rebounds from the lower trendline, then a momentum to the upperside is expected with an ultimate target set along the upper trendline and may breakout much higher,

Trade Recommendations:

Expect a possible rally towards the lower trendline.

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