08 February 2021, EUR/USD
Wave Analysis
Late last week, Euro bounced off from the lower trendline headed straight to the upperside but could not go beyond the upper trendline. If you are looking at this chart right now, expect further momentum to the upperside but should not go beyond the upper trendline. If the price breaks and closes above the upper trendline, then further momentum much higher is expected with the next ideal target at 1.21880. A break above this level will push the price much higher with the next ideal target at 1.23700.
Trade Recommendations:
Expect further momentum towards the upper trendline.
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