EURUSD has broken and is now retesting a daily descending wedge chart pattern.
The retest lines up nicely with an area of strong resistance, the neckline of a double bottom formation and the 61.8% re-tracement of the previous bull run.
Target 1 is at the previous high 1.1330 (113 pips), target 2 is a daily resistance and 1.27 fib extension at around 1.1415 (195 pips).
There is high impact news out for EUR at 18.00 gmt so I will be moving my SL to breakeven near to then.
The retest lines up nicely with an area of strong resistance, the neckline of a double bottom formation and the 61.8% re-tracement of the previous bull run.
Target 1 is at the previous high 1.1330 (113 pips), target 2 is a daily resistance and 1.27 fib extension at around 1.1415 (195 pips).
There is high impact news out for EUR at 18.00 gmt so I will be moving my SL to breakeven near to then.
Trade closed: target reached