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Remain long towards the upper trendline.

Remain long towards the upper trendline. | 18 Diciembre 2020

18 Diciembre 2020, EUR/USD

Wave Analysis

Euro is currently in a contracting wedge formation. While the price remains within the range not going below the upper trendline and above the upper trendline, we are only interested, we are waiting for a buy from the lower trendline and a sell from the upper trendline. A breakout above the upper trendline will push the price to the upperside with the next ideal target at 1.2452, and should the price break and close below the lower trendline, then further momentum to the lowerside is expected towards 1.21010.

Trade Recommendations:

Remain long towards the upper trendline.

Bob Stan
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