EURO - Price can exit from wedge and fall to $1.0655

Feb 15, 2024

Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊

Some days ago price started to trades in wedge, where it first made upward impulse from support line to resistance line.

Also, Euro broke $1.1000 level, which coincided with resistance area, but soon it turned around and declined below this level.

After this, price rose to $1.1000 level, bounced, and continued to move down to $1.0780 level, which coincided with resistance area.

Euro broke this level and fell to support line of wedge, but at once price bounced and tried to back up.

But recently it declined to support line, bounced, and started to grow, so now EUR trades near this line.

I think Euro can rise to resistance level and then bounce down to $1.0655 level, exiting from wedge.

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Feb 16, 2024

Note

At the moment Euro reached resistance level and started to trades near, so possibly it can rise to resistance line of wedge, after which price will turn around and start to decline to $1.0700 points, which coincides near support line, as I showed in the chart:

Feb 17, 2024

Note

Price tried to break the resistance level, but at the moment it continued to trades below this level. So, I continue waiting for when the Euro rose to the resistance line and then started to decline to $1.0700