The trend for eurusd is undoubtedly short, however, starting with the first drop under parity in mid-July, the pair lacks real continuation to the downside and lows are marginal with the yesterday's one being a false break under support.
Looking at the chart we can see that the falling wedge pattern is very steep and a short squeeze at this moment is highly probable
A new rise above parity can activate a lot of stop losses and the pair can accelerate to the upside
The target for the falling wedge pattern is 1.03 and interim resistance is at 1.01
Looking at the chart we can see that the falling wedge pattern is very steep and a short squeeze at this moment is highly probable
A new rise above parity can activate a lot of stop losses and the pair can accelerate to the upside
The target for the falling wedge pattern is 1.03 and interim resistance is at 1.01
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.