Buy a rebound from the lower trendline towards 1.20240. | 01 ديسمبر 2020
01 ديسمبر 2020, EUR/USD
Wave Analysis
Euro is currently rallied within a rising but converging wedge formation. On this chart, we want price to rally to the lowerside but should not break below the lower trendline. the anticipated bearish price rally is the continuation of the corrective wave (iv) to the lowerside but should not go beyond the lower trendline. If the price bounces off this trendline, then this will be a good place to buy the last impulsive wave (v) to the upperside and could see price break and close above the upper trendline.
Trade Recommendations:
Buy a rebound from the lower trendline towards 1.20240.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
