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Wait for a rebound from around 1.18534 to pick a possible long term buy position.

Wait for a rebound from around 1.18534 to pick a possible long term buy position. | 11 Marzo 2021

11 Marzo 2021, EUR/USD

Wait for a rebound from around 1.18534 to pick a possible long term buy position.

Wave Analysis

During the previous trading day, nothing much happened on this pair, we still seeing consolidations around level 1.18534. We are waiting for a clear rebound from this support level to pick a possible long-term buy position. Our expectation is that the price should continue to upperside towards the upper trendline. If the price breaks below level 1.18534, then this will be a good place to consider a possible long term sell position expecting the price to continue to the lower side with an ultimate target at 1.16328.

Trade Recommendations:

Wait for a rebound from around 1.18534 to pick a possible long term buy position.

Bob Stan
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