Price pattern breakdown Short

EURO / U.S. DOLLARICE

Description

⋅ Oct 24, 2015 10:17 AM

The rising wedge broke downward and thus we should expect lower prices in the coming weeks.
A reasonable target would be 1.04.

Comments

Pixel

⋅ Oct 25, 2015 3:31 PM

Yes, a few days are required to be sure, since the break low from the dollar's was so quickly reversed (for now).

kopparam

⋅ Oct 25, 2015 11:51 AM

sorinT

⋅ Oct 25, 2015 12:08 PM

Looks nice, thanks a lot.

bekirdur

⋅ Oct 24, 2015 5:38 PM

That will be the first target. Actual decrease should be the length of the base from the break point. My two cents :)

sorinT

⋅ Oct 24, 2015 5:41 PM

Sure, you are right. But that only if the breakdown is a valid one. Thanks!

bekirdur

⋅ Oct 24, 2015 6:13 PM

It looks valid from your from drawing view :) 1 more day close under that line would make certain in my opinion.

sorinT

⋅ Oct 24, 2015 6:33 PM

Let's see on Monday. Anyways, monthly chart shows the pressure on the supply trendline. If that breaks, then we might go even lower:

sorinT

⋅ Oct 24, 2015 6:35 PM

err: the demand trendline, sorry:)