EURUSD: Wedge Formation
As you see in the 4H chart, EURUSD has made a bullish formation and is moving inside an ascending wedge pattern.
Currently, price has approached to the lower band of the pattern and was pushed to the upside.
There is a resistance zone around 0.99500 and if price breaks this level, we can expect a rise towards the wedge’s upper side around 1.01
On the other side, we can see that the bearish candles are stronger than the bullish ones and since ascending wedges are more likely to be broken to the downside direction, if price failed to break the red resistance area , we can expect a drop on EURUSD and a downside breakout on the wedge’s lower band towards 0.9750
Personally, I have a bearish bias on the EURUSD. What is your idea?
Feel free to share your ideas in the comments.
Currently, price has approached to the lower band of the pattern and was pushed to the upside.
There is a resistance zone around 0.99500 and if price breaks this level, we can expect a rise towards the wedge’s upper side around 1.01
On the other side, we can see that the bearish candles are stronger than the bullish ones and since ascending wedges are more likely to be broken to the downside direction, if price failed to break the red resistance area , we can expect a drop on EURUSD and a downside breakout on the wedge’s lower band towards 0.9750
Personally, I have a bearish bias on the EURUSD. What is your idea?
Feel free to share your ideas in the comments.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。