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Forex Fundamental Analysis

Fri,16 Dec 2016-   TechnicalAnalysis

The previous day high of the pair was 0.74334 whereas previous day low was 0.7336. The price trend is showing a descending wedge trend as evident from the screenshot. For today’s opportunities there is a high probability of bullish trend breakout of descending wedge breakout. As soon as there will be a bullish wedge breakout of the wedge then long trade opportunities can be availed by setting two target profits: one at 0.74334, if there is still bullish trend continuity second target profit  can be set at 0.7523 and further  long trade can be continued if there is bullish trend continuity but in case of pullback counter short trade opportunities can be availed accordingly. News related to USD: housing stats will be shared today.

Aimen Tayyab

Financial Analyst