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Remain short towards 1.11.

Remain short towards 1.11. | 24 March 2021

24 March 2021, EUR/USD

Remain short towards 1.11.

Wave Analysis

Euro is currently in an active down trend. While the price remains below the lower trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below 1.1815. This view remains valid as long as the price remains below this trendline. In case the price breaks and closes above the lower trendline, then this will be a good place to consider a possible long term buy position with an ultimate target along the upper trendline.

Trade Recommendations:

Remain short towards 1.11.

Bob Stan
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