After a long, long, looooong consolidation and indecision (painful as hell might I add), FINALLY, the pattern is clear.
And we have a Falling Wedge, a bullish pattern.
We also have a clear resistance trendline of which I am sure will play a significant role the next time we meet it.
I think we will be rejected again and combined with a Trend Based Fib Extension, this trendline at 1.618 shows the target of 1.20 USD.
I think I don't have to explain what would mean if we break this trendline but currently, I don't think it is highly probable.
What do you guys think?
We have 17 days to see if this one truly plays out ;)
(not trading advice, I'm not your financial advisor, do your own due diligence)
And we have a Falling Wedge, a bullish pattern.
We also have a clear resistance trendline of which I am sure will play a significant role the next time we meet it.
I think we will be rejected again and combined with a Trend Based Fib Extension, this trendline at 1.618 shows the target of 1.20 USD.
I think I don't have to explain what would mean if we break this trendline but currently, I don't think it is highly probable.
What do you guys think?
We have 17 days to see if this one truly plays out ;)
(not trading advice, I'm not your financial advisor, do your own due diligence)
Comment:
We have broken out of the wedge and we're now testing the upper trendline of the wedge as support.