Buy a rebound from the lower trendline towards the upper trendline.
Buy a rebound from the lower trendline towards the upper trendline. | 09 July 2021
09 July 2021, EUR/USD
Technical Observation
Few days ago, EURUSD Rallied to the lowerside but failed to breakout below the lower trendline. This is a key trendline level, and while the price does not clearly breakout below it, we are on the sidelines, according to the current chart structure and set up, we are waiting for a rebound from the lower trendline to pick a possible rally to the upperside. And in case the price breaks below the lower trendline, then we will be looking for a possible rally to the lowerside with an ideal tarrget fixed around 1.13403, On the upperside, I want to see a surge towards the upper trendline, a break above this yttrendline will mean we are likely to see surge much higher towards 1.24.
Trade Recommendations:
Buy a rebound from the lower trendline towards the upper trendline.
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