EURUSD - Will the ECB Bring the Euro Down?
Will ECB take any action today and bring the euro down, or will let it burst above 1.4000.
From the technical point the price has drawn a Rising Wedge which broke the down trend line. This along with the negative divergence on the 28 periods RSI give a strong sell signal. A break below the lower line of the pattern would be a good confirmation for the signal. If the ECB will take no action today then we might see a break above 1.40 and the bulls might target 1.45.
From the technical point the price has drawn a Rising Wedge which broke the down trend line. This along with the negative divergence on the 28 periods RSI give a strong sell signal. A break below the lower line of the pattern would be a good confirmation for the signal. If the ECB will take no action today then we might see a break above 1.40 and the bulls might target 1.45.
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