EURUSD Bounce Within Wedge Then **LONG** On Break
A descending wedge is forming in this pair. It may have another bounce left in it on the resistance before break up. Or it could head straight up soon.
It could be a big sharp move up to near the 1.15600 area before heading back down
It could be a big sharp move up to near the 1.15600 area before heading back down
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The break down is inevitable. will it bounce first though?
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That is the weekly timeframe.
It has broken support of triangle to form a channel. It will likley bounce Bounce from major support now around 1.06806 for one more leg up before it breaks bellow.