Remain long towards 1.24030.

23 February 2021, EUR/USD

Remain long towards 1.24030.

Wave Analysis

During the previous trading day, Euro rallied to the upper side and even went above the upper trendline. As long as the price remains above the upper trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count and should price break and close above 1.24030 towards 1.35 or even higher. This view can only be invalidated in case the price breaks and closes below 1.19626, if this is the case, then further momentum to the upper side is expected.

Trade Recommendations:

Remain long towards 1.24030.

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Graham Osano
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