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We're holding onto long term buy positions towards 1.2450.

We're holding onto long term buy positions towards 1.2450. | 24 May 2021

24 May 2021, EUR/USD

We're holding onto long term buy positions towards 1.2450.

Wave Analysis

As we mentioned at the beginning of last week, we are yet to see any significant move to the upperside. As it is now, we are looking long term buy buy positions with an ideal target set at 1.22440. The anticipated bullish price rally is the continuation of the last impulsive wave (5) to the upperside and should breakout above 1.2450 towards 1.25 or even higher. On the flipside, should the price again break below 1.19013, then we will be looking for a possible long term sell position with our next target set at 1.15992.

Trade Recommendations:

We're holding onto long term buy positions towards 1.2450.

This is the seventh portfolio developed by FreshForex specialists. Each of the previous six portfolios showed positive results, with a total return of 86.2%.

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Bob Stan
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