EUR/USD forms falling wedge- Buy only above break out
Pattern formed- Falling Wedge
Potential reversal Zone (PRZ) - 1.0700 (Falling wedge breakout)
The pair has made a high of 1.06892 yesterday and broken major support 1.05900 and declined till 1.05660 level.
On the downside major support is around 1.0560 and break below targets 1.0500/1.0460 level.
The pair faces strong resistance around 1.0700 and any break above targets 1.0720/1.0770/1.0800
It is good to buy only above 1.0700 with SL around 1.0650 for the TP of 1.0770/1.0800
Potential reversal Zone (PRZ) - 1.0700 (Falling wedge breakout)
The pair has made a high of 1.06892 yesterday and broken major support 1.05900 and declined till 1.05660 level.
On the downside major support is around 1.0560 and break below targets 1.0500/1.0460 level.
The pair faces strong resistance around 1.0700 and any break above targets 1.0720/1.0770/1.0800
It is good to buy only above 1.0700 with SL around 1.0650 for the TP of 1.0770/1.0800