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We're waiting for a buy along the lower trendline towards the upper trendline.

We're waiting for a buy along the lower trendline towards the upper trendline. | 18 August 2022

18 August 2022, EUR/USD

Wave Analysis:

Euro continues to rally above the lower trendline and is not showing any signs of breaking below it. As long as the price does not clearly break and close below this trendline, we are looking for a possible long term buy position towards the upper trendline and may likely break above the upper trendline. On the flipside, if the price breaks below the lower trendline, then this will be a good place to consider a possible long term sell position with an ideal target set at 1.00048 and could continue lower.
Trade Recommendations:
We're waiting for a buy along the lower trendline towards the upper trendline.
Bob Stan
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