Potentially the greatest trade of this year - Huge Falling wedge
Updated
My chart shows that potentially there will be incoming big news, either from the US or Europe. What news? I don't know.
EURUSD has been crashing since May 2021, approximately 17 months.
A potential substantial falling wedge pattern is forming on the weekly time frame (Chart attached below). If the price rejects the bottom falling wedge line, I reckon EURUSD will climb to at least the upper weekly falling wedge line.
Invalidation:
- This analysis fails if the price breakout and close below the weekly falling wedge line
PS:
- Keep in mind that this analysis is based on the weekly time-frame
EURUSD has been crashing since May 2021, approximately 17 months.
A potential substantial falling wedge pattern is forming on the weekly time frame (Chart attached below). If the price rejects the bottom falling wedge line, I reckon EURUSD will climb to at least the upper weekly falling wedge line.
Invalidation:
- This analysis fails if the price breakout and close below the weekly falling wedge line
PS:
- Keep in mind that this analysis is based on the weekly time-frame
Comment
Keep climbing
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