- Upper breakout from range and Ascending triangle means continuation of the larger trend.
- For bears need price to break the rising support line and Range breakdown for a bigger fall to happen.
- Upper breakout can target 1860 plus levels. Breakdown from the range may take price towards 1800 levels.
- IBM CHART ANALYSIS
January 22, 2014
- EURUSD Daily chart shows the Bullish falling wedge pattern.
- One hour chart shows price moving in a channel towards the resistance line of the wedge. Price is likely to get resist at the resistance line followed by a small correction and a breakout in favor of bulls from the falling wedge pattern.
- Hourly close above the cloud will confirm the breakout from the pattern.