Telson

EURUSD Falling Wedge Formation Break-out Performance

Long
FX:EURUSD   Euro / U.S. Dollar
Based on our previous long-term analysis (please see links below), our general feeling regarding the EURUSD pair is going short.

But, as we mentioned on the original idea, we would expect the price to retrace and retest the previous structure support that was broken a few days back on the 1.05700's region.

We believe that this falling wedge formation may indicate the possible retrace for some extra pips. Please check previous structure for clues on supports and resistances and set TP and SL according to your trading style.

The RSI indicator shows oversold conditions, still, personally I would look out for further confirmation prior to entering a long order.

The above if a speculative theory that also suits our previous analysis... how convenient :)
Let's see if this works out.

All feedback and comments are highly appreciated.
Trade closed: target reached:
Target reached :)

It took a while but I hope you all made your pips... all 282 of them :)

Have a great weekend all.

Comments



Target reached :)

It took a while but I hope you all made your pips...
Reply


As expected the price retested the 1.05700's region on the 30/12.

We also expect a parity run to conclude by the end of Q1 2017.

Lets wait it out.

Happy New Year everyone, I wish you all the best.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out