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We're long towards the upper trendline.

We're long towards the upper trendline. | 04 August 2021

04 August 2021, EUR/USD

We're long towards the upper trendline.

Technical Observation:

Yesterday, EURUSD bounced off from the supportive trendline and is currently heading to the upperside. While the price remains above the lower trendline, I expect nothing but a possible rally to the upperside and should continue much higher towards the upper trendline. If the price breaks below the supportive trendline, then we will be expecting a possible rally to the lowerside and should head much lower towards 1.15350.

Trade Recommendations:

We're long towards the upper trendline.

Imelda Maseno
Analyst of «FreshForex» company
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