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.

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