EURUSD H1 Chart Technical Overview: Bearish Wedge
After a holiday period, markets are open.
Economic Calendar is empty. The U.S New Home Sales data is the most important event of the day on the calendar.
EURUSD tested 1.12610 and failed to break above. The pair is trading in a narrow trading range.
If it breaks above 1.12610, it is likely to test 1.12780. However, the upside is capped by SMA 200.
On the H1 chart, we see that the pair is printing a broadening wedge pattern.
Breakout of the wedge at 1.12400 would carry the price 1.12260 and 1.12000. ( Stop-Loss: Above 1.12610)
Update: TP2 Reached. Extended intraday targets 1.11800 and 1.11600
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
EURUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility