ashddylan

EUR/USD - Outlook

FX:EURUSD   Euro / U.S. Dollar
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EUR/USD has been extremely bullish and has not only managed to break the ascending wedge but it has also broken through the monthly resistance at 1.09554, there's one more barrier that awaits the EUR and that's the downtrend line dating back to May 2016. If it breaks this trend line closes and finds support in the 1.09554 zone then we are clear to go long.

My stochastic indicator tells me the price is overbought and I too believe this, I am looking for a rejection near the downtrend line and a close below 1.09554 before going short.
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