EUR/USD looks ready to fly.
Bullish on most TFs descending wedge pattern ready to give in however some more movement to the downside can be expected.
One theory is for EUR to close the gap between 1.0839 & 1.0770, for a full reversal and test the key fibo levels as EUR does like her Fibonacci.
1D - RSI horizontal and descending trendline broken with hoz resistance now showing signs of support + new HH and bullish divergence.
4H - RSI sideways awaiting movement, price action rejection off inside trendline.
Short term bearish targets 1.0839 - 1.0770
Short term bullish target 1.1245
Long term bullish targets 1.1800 & 1.1902
With the DXY showing signs of weekly bearish divergence on RSI and ascending wedge channel, this also seems to go in EUR favour but well see.
COMMENTS WELCOME
Bullish on most TFs descending wedge pattern ready to give in however some more movement to the downside can be expected.
One theory is for EUR to close the gap between 1.0839 & 1.0770, for a full reversal and test the key fibo levels as EUR does like her Fibonacci.
1D - RSI horizontal and descending trendline broken with hoz resistance now showing signs of support + new HH and bullish divergence.
4H - RSI sideways awaiting movement, price action rejection off inside trendline.
Short term bearish targets 1.0839 - 1.0770
Short term bullish target 1.1245
Long term bullish targets 1.1800 & 1.1902
With the DXY showing signs of weekly bearish divergence on RSI and ascending wedge channel, this also seems to go in EUR favour but well see.
COMMENTS WELCOME