I have written about the rising wedge EURUSD has been trading within for three weeks now. In the weekly forecast, I stated that 1.2010 is a critical level for sellers and buyers alike.
As I write EURUSD is hovering just above 1.2010 at 1.2044 to be exact; the closing today will be critical, a close below 1.2010 will the wedge and thus exposing 1.1878 and 1.1600.
- Read: Hybreed weekly forex forecast week ending 5th February 2021
- Visit Investogist’s homepage for more articles
A buy signal from this level will most likely target the top of the wedge 1.240. Resistance includes 1.215, 1.235 and 1.2400.
EURUSD daily time.
By: Chijioke Maduakor