BullBearMkt

EURUSD Intermediate Bearish Wedge Lower Channel Is Violated!

Short
OANDA:EURUSD   Euro / U.S. Dollar
The rising trendline on H4 that has been keep EURUSD in upward momentum has been broken with the last trading four hours ended in a rejection candle. The pair is expected to make a rally up (possibly towards bearish order candle at 1.22754 level). Any price rejection here could drag EURUSD further down to the long term trendline. However, a close above 1.23653 will indicate resumption upward momentum.

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Comments

I agree with your opinion!
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@Karzon, Tx
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Agreed with the idea on short however i don't personally think it will go up to 1.227, more like around 1.224 to retest the support line before bearish in my view. Nice layout chart :)
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BullBearMkt MicWoodsFX
@MicWoodsFX, Thanks for the comments. You may be right about your observation, it might not get to 1.227 but considering this is weekend, there might be some gapup or gapdown.
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MicWoodsFX BullBearMkt
@BullBearMkt, Yes agreed, Keep it up there the good work :)
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