We see a falling wedge on the eur/usd chart.
This is a bullish pattern and breaks upwards most of the time.
In the chart you see some arrows of possibilities. Anyhow, we have to wait for the break out before we will know what will happen.
Scenario 1: EUR/USD breaks out today. 1.185 will be the target.
Scenario 2: EUR/USD goes down a little bit again first before breaking out.
Scenario 3: EUR/USD breaks downwards shortly and hits support around 1.165. Then comes back in the wedge and breaks upwards.
Let's Sit On Our Hands! :)
This is a bullish pattern and breaks upwards most of the time.
In the chart you see some arrows of possibilities. Anyhow, we have to wait for the break out before we will know what will happen.
Scenario 1: EUR/USD breaks out today. 1.185 will be the target.
Scenario 2: EUR/USD goes down a little bit again first before breaking out.
Scenario 3: EUR/USD breaks downwards shortly and hits support around 1.165. Then comes back in the wedge and breaks upwards.
Let's Sit On Our Hands! :)