Wait for a rebound from the upper trendline to pick a low risk sell position. | 10 Marzo 2021
10 Marzo 2021, EUR/USD
Wave Analysis
Earlier the previous trading day, the US Dollar rallied to the upperside but failed to reach the upper trendline. As long as the price remains below the upper trendline, we are looking for long term sell positions. The idea is to wait for a bounce from the upper trendline to pick a possible long term sell position. The anticipated bearish price rally is the contination of an impulsive wave count and could see the price break below 104.00 towards 102.00. A break and close above the upper trendline will push the price much higher towards 110.00 or even higher.
Trade Recommendations:
Wait for a rebound from the upper trendline to pick a low risk sell position.
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.
