Buy a bounce from the supportive trendline. | 03 September 2020

03 September 2020, EUR/USD

Wave Analysis

On Tuesday this week, EURUSD bounced off nicely from the upper trendline, rallied to the lowerside and is still pretty much bearish both on the daily and on the weekly charts, we are waiting for a possible bounce from the lower trendline to pick a buy position. A break below the supportive trendline will mean we are continuing to the lowerside towards 1.16320. A bounce from the supportive trendline will push price to the upperside towards the upper trendline and may end up breaking above.

Trade Recommendations:

Buy a bounce from the supportive trendline.

Bob Stan
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