The market was falling down last Friday and finally found a support at 1.0922, which entered the price into a correction. There’s a “Rising Wedge” as well, so it’s likely that the downward movement will go on towards a support area between the levels 1.0858 – 1.0809. The price might start rising afterwards to a resistance area between the levels 1.0858 – 1.0922.
There’s a “Rising Wedge” on the one-hour chart. The price started falling and broke the up trend line, but then bears reached a support at 1.0922. It’s likely to see a rise to a resistance area at 1.1032 – 1.1145. The downward movement subsequently has a possibility to start towards a support area between the levels 1.0912 – 1.0858.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
