Wednesday, March 25, 2009

EURUSD Falling Wedge pattern

The Falling Wedge is deemed to be a Bullish Reversal Pattern.

Logically enough for me to enter Long position on the break with stops at the M1 pivot point at 1.3444. Target for this trade is the Channel Upper border around 1.3650.
Previous trades in USDJPY and AUDJPY were closed for small profits as the consolidations didn't tip extended corrections at the moment..

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