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Buy a rebound from 1.22211.

Buy a rebound from 1.22211. | 06 tháng Giêng 2021

06 tháng Giêng 2021, EUR/USD

Buy a rebound from the lower trendline.

Wave Analysis

Euro continues to rally within the contracting wedge formation and is not showing any signs of breaking out of it. As it is right now, we are still upwards, our expectations is that the price should continue to the upperside but should not break above 1.23315. If the price breaks below the lower trendline, then we will be expecting a possible rally towards 1.22211 and could breakout much lower. The idea is not to pick a buy position now, rather, wait for a bounce from the lower trendline to pick a buy position.

Trade Recommendations:

Buy a rebound from 1.22211.

Bob Stan
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