31 August 2020, EUR/USD
Wave Analysis
Euro is currently consolidating within a range not going above the upper trendline or below the lower trendline. On this chart, we still expect further momentum to the upperside, we basically expect a possible breakout above the upper trendline to pick further buy positions. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upper side and should breakout above 1.19680 towards 1.230 or even higher. A bounce from the upper trendline may attract a possible sell position.
Trade Recommendations:
Remain long towards the upper trendline.
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