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We're waiting for a rebound from tthe immediate trendline to pick a low risk buy position towards 1.226805.

We're waiting for a rebound from tthe immediate trendline to pick a low risk buy position towards 1.226805. | 04 October 2021

04 October 2021, EUR/USD

We're waiting for a rebound from tthe immediate trendline to pick a low risk buy position towards 1.226805.

Wave Analysis

According to the higher timeframes. Euro is currently in an active up trend. We expect the break above the upper trendline to act as an onset to an impulsive wave cycle and could see the price break above 1.26805 and may continue much higher towards 1.38515. A break above the latter we'll mean we're upwards 1.61935. On the flipside, a rebound from the same trendline will mean we're looking for a possible long term buy position immediately after the rebound.

\Trade Recommendations:

We're waiting for a rebound from the immediate trendline to pick a low risk buy position towards 1.226805.

Bob Stan
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