Yo Peeps,
Another interesting week up ahead. Following the weaker EUR from the last trading week, we should expect some strength in the EUR the coming weeks. Retracement has been in the 50 fib range and a huge rebound should signify a breakout from the falling wedge as spotted in the daily timeframe.
However, as gone down to the lower timeframe, i can see a bullish flag pattern in the 1H timeframe and this should potentially breakout from the falling wedge. TP 1 target would be 0.5655 for some quick bucks. However, for falling wedge patterns, usually price will retest the outer portion of the trend line where u can expect to enter again @ TP 2 = 0.5750.
Do let me know if you are agreeable or i should fix the current set up!
Cheers
PipsPunk
Another interesting week up ahead. Following the weaker EUR from the last trading week, we should expect some strength in the EUR the coming weeks. Retracement has been in the 50 fib range and a huge rebound should signify a breakout from the falling wedge as spotted in the daily timeframe.
However, as gone down to the lower timeframe, i can see a bullish flag pattern in the 1H timeframe and this should potentially breakout from the falling wedge. TP 1 target would be 0.5655 for some quick bucks. However, for falling wedge patterns, usually price will retest the outer portion of the trend line where u can expect to enter again @ TP 2 = 0.5750.
Do let me know if you are agreeable or i should fix the current set up!
Cheers
PipsPunk