17 May 2021, EUR/USD
Weekly Analysis
Last week, nothing much happened on this pair, we expected a possible rally to the upperside however, the price could not reach the weekly resistance zone 1.22440. As it is on this chart, we are expecting a possible break above this level towards 1.24523. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and may extend much higher towards 1.23 or even higher towards 1.25. At the moment, sell positions looks a bit risky and may not recommended.
Trade Recommendations:
Remain long towards 1.22440
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