Bullish Pin bar candle | 22 ديسمبر 2020
22 ديسمبر 2020, EUR/USD
Wave Analysis
The previous day's candle closed as a bullish candle. As long as the price remains above the Alligator blue line, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) and (5) and should push price much higher with the next ideal target set at 1.24 and could breakout much higher towards 1.25. As it is now, sell positions looks a bit risky on this chart and may not be recommended unless the price breaks below the blue line.
Trade Recommendations:
Remain long towards 1.25.
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.
