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RizeSenpai
Feb 16, 2024 2:11 PM

EURUSD: Attempting Secondary Breakout of a Falling Wedge Long

EUR/USDOANDA

Description

The EURUSD is attempting a secondary breakout of a Falling Wedge Pattern at the HOP level of a Bullish Gartley. It is also holding on to the 4-Hour 21-SMA with Bullish Divergence on the MACD. Taking all this into account, the EUR has a heightened probability of confirming a Break-Hook-and-Go from this Falling Wedge to confirm the bottom and begin a 61.8% - 78.6% retrace.

EURUSD has certainly been one of the more choppy USD pairs and the AUDUSD may prove to be a smoother Bullish trade, but I still would like to try also catch the EURUSD move despite it being the choppier pair.
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