EUR/USD forecast: Euro is currently above a significant resistance trendline

euroWave Analysis

Euro is currently above a significant resistance trendline. While we continue to see sustianace above this trendline, we are looking for long term buy position expecting the price to break beyond 1.22365 and may extend much higher. As it is now, we recommend looking for buy positions on this chart unless the price breaks and closes below the same trendline. If this should be the case, then a possible momentum to the lowerside is expected with an ultimate target set at 1.18543 and may breakout much lower.

Trade Recommendations:

As long as the price remains above the upper trendline we are buyers

As long as the price remains above the upper trendline we are buyers

Origin: FreshForex

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