Hi Traders!
The market was in a wedge formation since the beginning of October.
Then it broke out around the area 1.31500.
After that it retested the breakout and the market bounced back.
If the market hasn't done that, there would be a risk of a false breakout.
Now the market is around the Neckline at 1.31800.
We recommend to buy now until the resistance with a risk-to-reward ratio of 1 to 2.
Thanks and good luck :)!
The market was in a wedge formation since the beginning of October.
Then it broke out around the area 1.31500.
After that it retested the breakout and the market bounced back.
If the market hasn't done that, there would be a risk of a false breakout.
Now the market is around the Neckline at 1.31800.
We recommend to buy now until the resistance with a risk-to-reward ratio of 1 to 2.
Thanks and good luck :)!