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Weekly Overview on Majors' Price Action

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD - Perfect signal given by the Falling Wedge In the last week analysis I have mentioned a Falling Wedge, accompanied by a positive divergence on the 14 periods RSI, which were signaling a possible bullish move. After the price broke the upper line of the price pattern, it rallied towards 1.0640 and bounced back two times before it rallied again almost 450 pips, hitting 1.0980. The strong up move was triggered by the ECB’s December monetary policy, but the technical signals were there.

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