EURUSD FOLLOW UP STRUCTURE

Tendency: Downtrend ( Bearish )
Structure: Wedge | Breakout
Observation: i. The converging trend lines explains the Wedge.
ii. The trend lines drawn above and below the price pattern converges in anticipation of the breakout @ 1.10900 zone.
iii. Wedge Breakout coincides with support break @ 1.10750 level incites downtrend tendencies.
iv. Price below Moving Averages.
Trading plan: SELL possibility with minimum potential profit @ 160pips.
Risk/Reward: 1/2
Potential Duration: 5 to 10 days

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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