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Expect a possible rally towards the upper trendline.

Expect a possible rally towards the upper trendline. | 06 January 2022

06 January 2022, EUR/USD

We're on the sidelines.

Wave Analysis

Euro is currently rallying with a bullish bias momentum. As long as the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside. As it is now, I expect nothing but a possible momentum to the upper trendline and should not break beyond it. If the price breaks above the upper trendline, then further momentum much higher is expected with an ultimate target set around 1.1530.

Trade Recommendations:

Expect a possible rally towards the upper trendline.

Bob Stan
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