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We're long towards the upper trendline.

We're long towards the upper trendline. | 26 August 2021

26 August 2021, EUR/USD

We're sellers towards 1.13025.

Wave Analysis
During the previous trading day, we saw a impulsive move to the upperside and as long as the price remains above the previous day's highest high, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of an impulsive wave count and should see price break beyond1.1795 and should head straight towards 1.1919 and may extend even higher. If you are looking at this chart right now, keep looking for long term buy positions expecting price to break beyond 1.1996 and may extend even higher. On the flipside, should the price break below the previous day's lowest low, then expect a rally much lower.
Trade Recommendations:
We're long towards the upper trendline.
Bob Stan
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