EURUSD Wedge/Channel potential breakout or continuation.
EURUSD has carved out a nice Wedge pattern for us on the 4-hour. It looks a bit more defined on the Daily as well.
Before the weekend, price showed it's hesitance to break further down at the bottom of the Wedge and at structure support - 1.08300
Trade Idea(s):
If price breaks below the Wedge and 1.0830 support, I will wait for a retracement before entering a SELL trade.
If price turns around and pulls back up, I may have a BUY signal on Monday when the markets are opened (Sunday evening, technically) and will be in the market by then.
Otherwise, I will be waiting for price to come back up and retest the upper Wedge.
Either way, I will likely be in a EURUSD trade this week.
Before the weekend, price showed it's hesitance to break further down at the bottom of the Wedge and at structure support - 1.08300
Trade Idea(s):
If price breaks below the Wedge and 1.0830 support, I will wait for a retracement before entering a SELL trade.
If price turns around and pulls back up, I may have a BUY signal on Monday when the markets are opened (Sunday evening, technically) and will be in the market by then.
Otherwise, I will be waiting for price to come back up and retest the upper Wedge.
Either way, I will likely be in a EURUSD trade this week.