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We're sellers towards the lower trendline.

We're sellers towards the lower trendline. | 17 December 2021

17 December 2021, EUR/USD

We're sellers towards the lower trendline.

Wave Analysis

Yesterday, Euro bounced off from the lower trendline, headed straight to the upperside but could not go beyond the upper trendline. As long as the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside. The ideal is to keep looking for long term sell positions towards the lower trendline. In case the price breaks above the upper trendline, then we will be looking for a possible long term buy position towards 1.13867 and may continue much higher towards 1.144639.

Trade Recommendations:

We're sellers towards the lower trendline.

Bob Stan
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