Technical Analysis Breakdown

14 Apr 2020

EUR is currently sitting In a wedge formation (a) looking to see how the market reacts at the zone circled (b) a high probability area to see some reaction you have a strong level of resistance marked in blue if this level is broken I would then wait to see if we get a breakout of the wedge which would bring us to next level of resistance (c). Alternatively we could see a breakdown to the other side where I would look for a break of minor trend line (d) where we will push to the bottom half of the wedge following a break it would bring us to the next level of resistance/support (c)