AvaTrade - Analytics

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EUR/USD- Trading in a downward wedge pattern

The EUR/USD pair is trading in a downward wedge pattern on a 4 hour time frame. The price is trading within the Bollinger band and this shows that the volatility is low for the pair. However, as we move further in this downward wedge pattern, it becomes more narrower and confirms that price has bigger chances of breaking out of this pattern.

The RSI indicator is showing a very different sign which is this that as the price is moving lower, the RSI is not confirming that the momentum is behind this.

EURUSD 01-12-2015

Important Zones

1.0541-1.517 Support

1.0764-1.0719 Resistance



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