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Conservative traders should wait and buy a breakout above the upper trendline towards 1.2123.

Conservative traders should wait and buy a breakout above the upper trendline towards 1.2123. | 13 September 2021

13 September 2021, EUR/USD

Conservative traders should wait and buy a breakout above the upper trendline towards 1.2123.

Wave Analysis

After bouncing off from the upper trendline, Euro rallied slightly to the lowerside but is yet to hit our target set around 1.16610. If the price breaks below this level, then further momentum to the lowerside is expected. And on the flipside, should the price breakout above the upper trendline, then further ,momentum to the upper side is expected. As it is right now, we are looking for a possible long term buy position expecting the price to rally towards 1.2123.

Trade Recommendations:

Conservative traders should wait and buy a breakout above the upper trendline towards 1.2123.

Bob Stan
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