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Buy a break aboven the upper trendline.

Buy a break aboven the upper trendline. | 27 November 2020

27 November 2020, EUR/USD

Buy a break aboven the upper trendline.

Wave Analysis

Yesterday, Euro bounced off from the upper trendline and is not showing signs of breaking above the upper trendline. If the price breaks and closes above the upper trendline, then this will be a good place to consider a possible long term buy position with an ultimate target set around 1.19810. On ths flipside, if the price breaks and closes below the lower trendline, then further momentum to the lowerside is expected with an ultimate target set along 1.16310. A break below this target will push the price much lower towards 1.15770.

Trade Recommendations:

Buy a break above the upper trendline.

Bob Stan
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