Wait for a break above the upper trendline. | 05 May 2022
05 May 2022, EUR/USD
Wave Analysis:
The Euro is currently on an uptrend,the price has been rallying within the upper and the lower trendlines.Recently the price rebounded from the lower trendline towards the upper trendline at the impulsive wave cycle five.As at now the price is rallying around the upper trendline,I expect a break above the upper trendline then further bullish momentum.If you are looking at this pair right now,wait for the price to break above the upper trendline then pick a buy.On the flipside,should the price bounce back to the lower side I expect it to go upto 1.1050.
Trade Recommendations:
Wait for a break above the upper trendline.
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.
