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Buy a rebound from the lower trendline towards 1.23380.

Buy a rebound from the lower trendline towards 1.23380. | 27 May 2021

27 May 2021, EUR/USD

Buy a rebound from the lower trendline towards 1.23380.

Wave Analysis

Euro is currently in an active uptrend. While the price remains above the supportive trendline, we are in an up trend. Ideally, we want to see a clear rebound from the lower trendline to pick a possible long term buy position with an ideal target set at 1.23380. The anticipated bullish price rally is the continuation of the last impulsive wave (v) to the upperside and should breakout above 1.23380. On the flipside, should the price breaks below the lower trendline, then further rally to the lowerside is expected towards 1.20380.

Trade Recommendations:

Buy a rebound from the lower trendline towards 1.23380.

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Bob Stan
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