EurUsd - False breakout from the wedge but still long

FX_IDC:EURUSD   Euro / U.S. Dollar
1139 12 32
I'm still waiting for Eurusd-0.74% to print a DCL and a 4-5 days bounce in the following days.
The purple trendline should hold as we are late in this daily cycle. So one more tag of the lower trendline of the wedge (and the purple trendline ) and breakout should come with a 4-5 days bounce.
Notice the divergencies...
Comment: Breaking the trendline again.
Hopefully we don't get one more false breakout again....
Hi. How did you know that there would be bounce up to 1,42 level ??? It seems to me that the market wasnt counting with it. Because we got the second breakout from the wedge on 2016-05-30 at 1,11178 ? ? Thanks Hmm I would download all your charts and study them, you are really pro.
Chart sorry but maybe I missed some posts of yours! Are you long on eur/usd with target of 1.15? On gold too with target of 1240/1250? Thanks in advance...
MiDiGre MiDiGre
Ok ok found it! Now it's clear :-)
Question: I see this breakout on the 240 chart, but when you look at the daily chart it turns up as a breakout from that long trend line. Considering the correlation with gold, I would prefer to take on the 240 chart, since it would mean gold is bouncing up too. But how to look at that daily breakout to the lows?
The question is not clear for me. Could you post a chart?
mabaert chartwatchers
mabaert mabaert
With yellow line as daily trend line.
mabaert mabaert

I adjusted the daily trend line somewhat. Now it looks confirming of your theory. Daily on in upwards channel, now on the bottom of it. Please feel free to comment on any misinterpretation
+1 Reply
great chart... Similar opinion... What do you think can be Tuesday´s PCE Deflator good enough to hike rate in June ?
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