EUR/USD in downward wedge, bouncing off Fib retracement

11 Des 2024

EUR/USD is in a downward wedge and has bounced off the Fibonacci 50% retracement from the weekly chart, which is also in a supply zone, so there should be good support there. The upper trendline was already broken during the US CPI news today, but the price went back into the wedge. Resistance is probably not strong at least until US CPI news high, so there's a good chance of breaking up and out of the wedge and reaching at least the forecasted level.

12 Des 2024

Catatan

On my TravingView chart (the one I created this idea from), it shows Target Reached (Success) already this morning. I actually set my TPs at 1.05300 and a few points below and all my trades hit my TPs. I was more precise with my target for my trades than with this forecast, so I will take note of that, and be more precise with my forecasts in the future.