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We're waiting for a rebound from 1.01430 towards the upper trendline.

We're waiting for a rebound from 1.01430 towards the upper trendline. | 16 August 2022

16 August 2022, EUR/USD

We're waiting for a rebound from 1.01430 towards the upper trendline.

Wave Analysis:

Yesterday, EURUSD rallied to the lowerside but could not break below the lower trendline. As it is right now, we are waiting for a clear rebound from it to pick a possible long term buy position towards the upper trendline. On this chart, a buy is recommended towards the upper trendline. And in case the price breaks below this trendline, then we will be waiting for a bearish rally towards 1.00048 and may likely extend much lower.
Trade Recommendations:
We're waiting for a rebound from 1.01430 towards the upper trendline.
Bob Stan
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