EURO-Wedge pattern breakout
Hi everyone
After a good amount of bull market for EURUSD,now we can see the indications of a possible bear trend .These indications include less buying pressure and long shadows on top and bottom of last couple of bar in 4 hours chart.
As the wedge pattern forms, in the next couple of bars we may get a breakout of the bull trend line.In my opinion, the price will reach 1.07 $ probably shows some resistance and break out of the current channel to the lower one and if we consider a measured move we may get to see it reaches the 1.065$ or if we consider this the continuation of our weekly bear trend line we may see lower prices.
Hope this analysis helps you in a way.
I will answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
After a good amount of bull market for EURUSD,now we can see the indications of a possible bear trend .These indications include less buying pressure and long shadows on top and bottom of last couple of bar in 4 hours chart.
As the wedge pattern forms, in the next couple of bars we may get a breakout of the bull trend line.In my opinion, the price will reach 1.07 $ probably shows some resistance and break out of the current channel to the lower one and if we consider a measured move we may get to see it reaches the 1.065$ or if we consider this the continuation of our weekly bear trend line we may see lower prices.
Hope this analysis helps you in a way.
I will answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
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