EUR/USD : Prospectus for the upcoming week
Here is my analysis for the next week : we are in the consolidation ” wedge” and ready to break out. When the ” break out ” occurs, i expect it to be a powerful one. The minimum buying level on the dailies is the high of last Thursday’s @ 1.4350 with the target @ 1.45. The position has to be “risk free” at that level, because the dramatic reversal can occur.
Should the market break out of this level, our next target point is @ 1.4610 ( which is a 61.8 % ) .the 2 above mentioned levels would be my sell levels
Inversely, the break down of the wedge will occur at 1.4200 level, we will then be looking for a price to return to a huge psycological level of 1.400, where EMA 89 is currently residing
