EUR/USD: STRUCTURE ANALYSIS, WEDGE PATTERN, REVERSALS
In this EUR/USD pair the trend has previously broke-out of the bullish behaviour, the trend had moved towards structure levels as yellen's speech was made which took into effect. However I have analysed this pair and interpret that a pullout may occur following another reversal leading the pair to an even more downwards point than current point. I am currently in the long stage as I do believe the trend will retrace back to previous structure to possibly set up shorts. The two parallel lines indicate possible support and resistance levels.
Opening point: 1.11613
Target point: 1.1264
Exit point: 1.11313
Opening point: 1.11613
Target point: 1.1264
Exit point: 1.11313
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.