EURUSD - Breaks the wedge (Day trade idea)
EURUSD - Intraday - We look to Sell at 1.1232 (stop at 1.1257)
3 positive daily performances in succession. Bespoke resistance is located at 1.1232. The rally is close to an exhaustion count on the intraday chart. Price action has formed a bearish ending wedge formation. There is scope for mild buying at the open but gains should be limited. The formation has a measured move target of 1.1182.
Our profit targets will be 1.1182 and 1.1150
Resistance: 1.1232 / 1.1244 / 1.1260
Support: 1.1216 / 1.1182 / 1.1150
3 positive daily performances in succession. Bespoke resistance is located at 1.1232. The rally is close to an exhaustion count on the intraday chart. Price action has formed a bearish ending wedge formation. There is scope for mild buying at the open but gains should be limited. The formation has a measured move target of 1.1182.
Our profit targets will be 1.1182 and 1.1150
Resistance: 1.1232 / 1.1244 / 1.1260
Support: 1.1216 / 1.1182 / 1.1150
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