EURUSD right now is at really crutual level.
Blue line is previous support level on 1D TF
But as you can see price right now has reached top of a daily falling wedge and top of 4h rising wedge which is also at fib level 0,786
Plus this 4h falling wedge is a corective wave (ABC).
I see a possible way down from here to test bottom of daily wedge, but EURUSD looks really bullish now, so it can break the top.
Only way to know how this one turns out is waiting, as usual. I have a open sell on it, but to be honest it can go both ways from here, so if you are shorting EURUSD, keep your SL close.
Good luck!
Blue line is previous support level on 1D TF
But as you can see price right now has reached top of a daily falling wedge and top of 4h rising wedge which is also at fib level 0,786
Plus this 4h falling wedge is a corective wave (ABC).
I see a possible way down from here to test bottom of daily wedge, but EURUSD looks really bullish now, so it can break the top.
Only way to know how this one turns out is waiting, as usual. I have a open sell on it, but to be honest it can go both ways from here, so if you are shorting EURUSD, keep your SL close.
Good luck!
