January 22, 2014

Falling Wedge of EURUSD

  • 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.

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