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Look for long term buy positions towards the upper trendline.

Look for long term buy positions towards the upper trendline. | 09 October 2020

09 October 2020, EUR/USD

Look for long term buy positions towards the upper trendline.

Wave Analysis

Yesterday, Euro bounced off from the supportive trendline, headed straight to the upperside and is still pretty much bullish. We expect further momentum to the upperside towards the upper trendline. If the price breaks and closes above the upper trendline, then further momentum much higher is expected. This view can only be invalidated in case the price breaks below the supportive trendline, if this is the case, the we will be looking for a possible long term sell positions with our target set at 1.16935.

Trade Recommendations

Look for long term buy positions towards the upper trendline.

Bob Stan
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