sorinT
Short

Price pattern breakdown

FX_IDC:EURUSD   Euro / U.S. Dollar
The rising wedge broke downward and thus we should expect lower prices in the coming weeks.
A reasonable target would be 1.04.
Yes, a few days are required to be sure, since the break low from the dollar's was so quickly reversed (for now).

+1 Reply
sorinT kopparam
Looks nice, thanks a lot.
Reply
That will be the first target. Actual decrease should be the length of the base from the break point. My two cents :)
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sorinT bekirdur
Sure, you are right. But that only if the breakdown is a valid one. Thanks!
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bekirdur sorinT
It looks valid from your from drawing view :) 1 more day close under that line would make certain in my opinion.
Reply
sorinT bekirdur
Let's see on Monday. Anyways, monthly chart shows the pressure on the supply trendline. If that breaks, then we might go even lower:
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sorinT sorinT
err: the demand trendline, sorry:)
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