This week, the weekly view will be short, also I am writing this in Thursday.
As you may know, at the moment the market expect 0.50% rate cut, before (!!!) the FOMC meeting. Then some "experts" expect FED to cut another (!!!) 0.25%.
EUR/USD 1 day chart
Here we see the old wedge in blue. The USD failed to test it @ 1.42. There are also a brown channel up. However, it failed to make new high - old was 1.49.66.This looks to me as double top, but everything depends what will happen next couple of days.
Possible bearish scenario is to see 1.45 (brown) testing.
EUR/USD 4h chart
Here we see same brown channel, and there are a small channel up (blue). Current fall may go there - 1.46.90, or may stop on pink line 1.47.40.EUR/USD 1h chart
Here trendline colors are not "related" to preivious charts.I am not sure if we had this mini channel (brown), but is broken. Pink line is hypotetical, ASSUMING we hit bottom 20 min ago.
Once again, according to previous chart targets are 1.46.90 or 1.47.40.
Happy week and happy trade :-)
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