We're buyers towards the upper trendline. | 16 December 2021
16 December 2021, EUR/USD
Wave Analysis
Yesterday, Euro bounced off from the lower trendline and is currently heading to the upperside. As long as the price remains above the lower trendline, we expect a possible extension of the last impulsive wave (c) to the upperside and should breakout above the upper trendline towards 1.13867 and may breakout much higher with the next ideal target set at 1.14639. On the flipside, should the price break below the lower trendline, then further momentum to the lowerside is expected towards 1.11835.
Trade Recommendations:
We're buyers towards the upper trendline.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
