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Expect a rally towards the upper trendline.

Expect a rally towards the upper trendline. | 10 November 2022

10 November 2022, EUR/USD

Wave Analysis

During the previous trading day, EURO continued to the upperside but is still below the upper trendline. As long as the price does not close above the upper trendline, we are waiting for a rebound from it to pick a possible long term sell position. If the price breaks above the upper trendline, then we will be expecting further momentum to the upperside and may see the price continue to the upperside towards 1.04900.

Trade Recommendations:

Expect a rally towards the upper trendline.

Bob Stan
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