The Falling Wedge
bands on XEMUSD have been slightly broken upwards on a 1D spike that reached 0.1166 but was quickly sold back to even lower that yesterday's levels. This level (0.1166) is also a 0.786 Fibonacci retrace, and probably the reason for the strong selling. There are two bearish
possibilities created form this event: the more slow paced 1D Channel Down (faded channel, RSI
, Williams, Highs/Lows neutral) or the more aggressive 4H Channel Down. Both still point to our TP = 0.060.