EURUSD Yesterday’s chart analysis
If you have received my yesterday’s analysis as a G-Trader member, then you have seen that the EURUSD pair have done what was predicted.
The price have made small bullish Pinbar on the strong support at $1.11871 and breakout from the falling wedge pattern. Another point that was clearly stated is that we should wait Monday for the clear signal where the market could go.
Breakout below wedge pattern would confirm head and shoulders pattern, but it did not materialize. The price did what wedge pattern was pointing on. The price breakout above and continued moving up.
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EURUSD Chart Forecast
After breakout, the price reached first resistance at $1.12806 and made a pullback. After the pullback the price made a bullish Pinbar right on the wedge pattern resistance line and that confirms further move up.
The next thing the price needs to do is to close above $1.13427 to open the road to $1.14000 and $1.15000.
With the nice breakout we can play this scenario with very good profit target.
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