EUR/USD: price broke the "Wedge"

EUR/USD: price broke the "Wedge"

11-8-2017-EUR-H4.png

The price has broken the upper side of a "Wedge" pattern. So, the market is likely going to test the nearest resistance at 1.1846 - 1.1875 in the coming hours. If a pullback from these levels happens, there'll be an opportunity to have a decline towards the 34 Moving Average.

11-8-2017-EUR-H1.png

All the Moving Averages lines have been broken, so the price is consolidating. It seems like we've got a developing "Flag" pattern. In this case, we should keep an eye on the next resistance at 1.1823 - 1.1845 as an intraday bullish target.

eur

Similar

Popular

EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera