EURUSD - Likely to Resume Uptrend
Many notable Banks, Fundamental & Technical Analysts have been calling EURUSD lower almost ever since it formed significant low in July 2012.
Many have been focusing on what looks like rising wedge which if correct then on completion it would implicate bearish action to at least price retracing to the beginning of the wedge.
According to many analyst this wedge is being formed from the July 2012 low and completed at recent high, however, this is being incorrectly interpreted.
Whilst it has moved broadly side ways for most of 2014 so far, I believe it is forming a base with 1.3450 1.340 holding it has every possibilities for it to head higher and complete the larger AB = CD measured mover to 1.44 area.
Select to follow me and the chart of being notified of any updates.
As always this is my view based on my interpretation of price action and suggest you do your own analysis for your trade planning.
Many have been focusing on what looks like rising wedge which if correct then on completion it would implicate bearish action to at least price retracing to the beginning of the wedge.
According to many analyst this wedge is being formed from the July 2012 low and completed at recent high, however, this is being incorrectly interpreted.
Whilst it has moved broadly side ways for most of 2014 so far, I believe it is forming a base with 1.3450 1.340 holding it has every possibilities for it to head higher and complete the larger AB = CD measured mover to 1.44 area.
Select to follow me and the chart of being notified of any updates.
As always this is my view based on my interpretation of price action and suggest you do your own analysis for your trade planning.
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