TradingMax

EURUSD Long Wedge Breakout

Long
FX:EURUSD   Euro / U.S. Dollar
Wedge formation which started on the 18th December is looking very likely to breakout.

The top edge is looking to be around 1.2240. On the breakout the first target is the high of the wedge (~1.2350) and the second target is determined by the height of the wedge at around (1.2380).

Lower liquidity and some news from US might give the momentum required for the break.

The idea loses it's value around 1.2215 where we would be looking to go short.

Please trade responsibly.