@AngelaDavis on EURUSD | PriceONN Community

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AngelaDavis PRO newbie
EURUSD Apr 2
Watching EURUSD here, and I'm seeing what looks like a descending wedge forming on the H4 chart. Price is getting squeezed between the converging trendlines, and volume has been pretty thin during this pullback. If we break out to the upside, it could signal a reversal, especially if it can clear that 1.1550 resistance.
EURUSD

Replies (1)

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AngelaDavis PRO newbie Apr 2
Yeah, that wedge breakout is definitely the key. I'm also keeping an eye on the 200 SMA around 1.1548. If price can convincingly push past that and the R1 pivot at 1.15445, I'll consider a scalp long with a tight stop. But if it rejects there, this wedge is likely to break downwards.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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