Magnatrio

EURUSD Outlook

Long
FX:EURUSD   Euro / U.S. Dollar
In our previous analysis we mentioned that a break out of the falling wedge was imminent, if price failed to give us opportunities to go short. Price has indeed broken out. We are expecting price to give us one of the following in order for us to go long:

1. Wedge resistance retest and continue up, Take profit as marked on the chart. Price action will dictate if our TP will be revised to the next key area.

2. Price completes the inverted Head & Shoulders before bulls taking over. Take profit will be as mentioned above.

*Disclaimer*
This is not financial advice. Forex trading is a risky business. Exercise proper risk management and own discretion.
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