Mihai_Iacob

EurUsd- Very steep falling wedge, short squeeze can follow

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FX:EURUSD   歐元 / 美元
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

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