There is a symmetrical triangle within a falling wedge inside a larger weekly descending triangle. Based on this analysis EUR/USD will break it's current pattern of consolidation and fall to 1.1170 - 1.1190 level before the end of the year. (2018). Price is expected to shoot up to the upper trendline (1.1600) afterwards. If price breaks that level, expect up more to 1.2100; if upcoming Brexit updates are negative & the Federal Reserve hawkish on it's interest rate hikes throughout the next year, EUR/USD price can continue it's downward trend to 1.1100 and even 1.040 by the end of 2019.
This post primarily serves as a reference point to the large wedge observed and it's long-tern viability. Do not take this analysis as a trading signal.
This post primarily serves as a reference point to the large wedge observed and it's long-tern viability. Do not take this analysis as a trading signal.