April 27, 2011

Rising Wedge of EURUSD

  • EURUSD Four hour chart is showing a rising wedge pattern.
  • Rising wedge is a bearish reversal pattern.
  • If this pattern plays out we may see the US Dollar taking a bullish turn.
  • A clear break below the support line can start the correction in this pair. 1.4470 is an important support level. 

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