Cabana Capitals Blog Technical Analysis Should we expect a breakout or a rebound on EURUSD?

Should we expect a breakout or a rebound on EURUSD?

Should we expect a breakout or a rebound on EURUSD? post thumbnail image

The movement of EURUSD towards the support line of a Falling Wedge is yet another test of the line it reached numerous times in the past. This line test could happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current levels.

Supported by Downward sloping Moving Average

Target: 1.0746 Entry: 1.0775 Stop: 1.0827

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