Cabana Capitals Blog Technical Analysis Possible breach of resistance level by EURUSD

Possible breach of resistance level by EURUSD

Possible breach of resistance level by EURUSD post thumbnail image

Emerging Rising Wedge detected on EURUSD – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 1.07131 and it is expected to move to 1.0754.

Supported by Upward sloping Moving Average

Target: 1.0754 Entry: 1.0713 Stop: 1.0681

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