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Expect further momentum towards the supportive trendline.

Expect further momentum towards the supportive trendline. | 03 Juli 2020

03 Juli 2020, EUR/USD

Wait for a sell from the upper trendline.

Wave Analysis

Just as previously expected, Euro bounced off from the upper trend line, headed straight to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below the upper trend line, we expect nothing but a possible momentum to the lower side and should break and close below the supportive trend line. If the price should close below this support, then we expect further momentum to the lower side is expected with an ultimate target around 1.0975.

Trade Recommendations:

Expect further momentum towards the supportive trend line.

Bob Stan
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