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Sell Euro towards the supportive trendline.

Sell Euro towards the supportive trendline. | 27 August 2020

27 August 2020, EUR/USD

Wave Analysis

After an impulsive bullish move, Euro is currently consolidating but in an upward manner. As it is now, we are expecting a possible continuation of the last impulsive wave (c) to the lowerside, towards the lower trendlne. If the price breaks below this trend line, then this will be a good place to consider long term sell positions. And in case the price bounces off from the supportive trendline, then this will be a good place to consider a possible long term buy position with an ultimate target around the upper trendline.

Trade Recommendations:

Sell Euro towards the supportive trendline.

Bob Stan
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