patterntrader

EURAUD Reversal falling wedge?

FX:EURAUD   Euro / Australian Dollar
Two wonderfully slope trendline pointing downwards. Three touches on the top and two on the downside. It took more than 3 weeks to develop this reversal pattern. About half of the formation act as consolidations of the prevailing trend. A breakout to upwards is eminent and of course, can buy after after the breakout.
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