EURUSD falling wedge

FX:EURUSD   Euro / U.S. Dollar
EURUSD             has reached important 1.3330 and formed a falling wedge . On a weekly it is pressing 50 SMA . If you are not short already, don't chase here, you can even go long with nice RR.
target 1.35830 -1.36 ))
I don't think this rally is going to hold. ECB meeting tomorrow is expected to say more of the same and this is likely profit taking during a low volume August. I could be wrong though!
i will take long position at 1.3290 my stop will be below 1.3240
forextrening smartforexfunds
Good thinking but I don't believe it would go under 1.3300
TheSleepyTrader forextrening
Do you not think that with the Ukraine news (Russian forces) and the concerns over the Italian ecomony falling back into recession / Germany PMI figures that it could push the EUR/USD below 1.33? We are still in a heavy downtrend on indicators on daily ticks.

It's not easy to short Russia so we might see selling pressure on the Euro as the risk of European exposure to Russia increases and it looks more like the Eurozone is still in trouble.
TheSleepyTrader TheSleepyTrader
I'm short EUR/USD, GBP/USD and USD/CHF at the moment.
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