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We're buyers towards the upper trendline.

We're buyers towards the upper trendline. | 16 December 2021

16 December 2021, EUR/USD

We're buyers towards the upper trendline.

Wave Analysis

Yesterday, Euro bounced off from the lower trendline and is currently heading to the upperside. As long as the price remains above the lower trendline, we expect a possible extension of the last impulsive wave (c) to the upperside and should breakout above the upper trendline towards 1.13867 and may breakout much higher with the next ideal target set at 1.14639. On the flipside, should the price break below the lower trendline, then further momentum to the lowerside is expected towards 1.11835.

Trade Recommendations:

We're buyers towards the upper trendline.

Bob Stan
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