EUR/USD: "Falling Wedge" pattern

EUR/USD: "Falling Wedge" pattern


The main trend is still bullish. There's a "V-Bottom" pattern, so the market is likely going to test the next resistance area at 1.2322 - 1.2358. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the nearest support at 1.2194 - 1.2164.


There's a possible "Falling Wedge" pattern, which upper side has been broken. So, we should keep an eye on the next resistance at 1.2322 - 1.2358 as the next bullish target. This area could be a departure point for a bearish correction.




Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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