Currently EURUSD is showing major bullish momentum, bears failed to break the 78.6% line we see rejections on the candlesticks to confirm our trade.
We also see on stochastic and rsi indicators that bears didn't keep their momentum and buyers are pushing for consolidation.
My prediction we will see a long trade in the EURUSD where we might see price rally from...
Possible breakout to the upside , small consolidation period , waiting for the breakout.
Why I believe it will break the upside
: Reached previous support
: Falling wedge
: Small consolidation period.
last confirmation look for a significant pin bar or even engulphing candlestick.
Price broke Channel Trade creating an rising wedge, I believe we will see a break to the downside since there still needs to be a lot of movement. The possibility of a bullish trade is 30-32% because of the retest on the trend line and then bouncing up again. Trade cautiously!
GBPUSD looks to be going short , There is 2 Touches on 1 support , indicating to me that buyers are running out. If we see a 3rd touch at the 1.33100 then we might see a triple top with possibility's of a breakout to the downside.
