EUR Wedge Formation

FX:EURUSD   Euro / U.S. Dollar
EURUSD has formed an wedge on the intraday charts and, as we approach the end of the week before a very sharp rising movment, I'm looking forward to sell the Euro, catching the Elliot's correction movement.

To trigger my trade today, I'd expect it to break under the wedge border and the daily pivot, on 1.2883, to sell it. My primary target would be the 1.2800 area where lies this minor chanel border and the broken resistance border of the H4 channel (dashed blue) and further 1.2740 where lies the most important fundamental suport.

If it breaks through the 1.2740 we could see the EUR falling towards the lower H4 channel borders.

Follow this trade on:


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.