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We're waiting to rebuy a rebound from the lower trendline to pick a buy position towards the upper trendline.

We're waiting to rebuy a rebound from the lower trendline to pick a buy position towards the upper trendline. | 03 August 2021

03 August 2021, EUR/USD

Wave Analysis

Yesterday, Euro bounced off from the upper trrendline, headed straight to the lowerside and is currently approaching the lower supportive trendline. If the price rebounds from this trendline, then this will be a good place to consider a possible long term buy position. And in case the price breaks below the lower trendline, then further momentum to the lowerside is expected with an ideal target set around 1.18225, a break any lower will push the price much lower towards 1.177650.

Trade Recommendations:

We're waiting to rebuy a rebound from the lower trendline to pick a buy position towards the upper trendline.

Bob Stan
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