Baxia Markets
August 17, 2021

Falling Wedge on EURUSD

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As can be seen, the price has gone through a sharp crash since May 28th. The price line broke the Ichimoku cloud in just three days. Also, the steep angle can be seen from Parabolic SAR; the dots were falling sharply. There is no doubt that the price held a solid downward power; so, would this power continue?



Recently, the price has been making small waves. Since Jul 13th, the price has made two waves, and both of them ended lower than the beginning. Does this pattern look familiar? This price line is building a falling wedge. As we know, a falling wedge is a bullish signal. The price would break up after finish the wedge; so, will the price break up?




First, the Ichimoku gets thicker and goes down recently. If the price overlapped the Ichimoku, a breakout could take place soon. MACD is vague. But the Standard Deviation is going up, which means the price could make some big fluctuations.


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