EURUSD Possible Falling Wedge Break

Hi Traders!

A falling wedge is forming on the EURUSD 4H chart, and we could have a breakout soon.

Here are the details:

The market has found support and resistance at both the trendline support and trendline resistance of the wedge, as the market is looking for a direction.

Looking at the price action, it looks bullish; we have had multiple tests at the trendline support and have broken above the 20 EMA. The market is currently on the trendline resistance, and we are looking for a break and a close above the trendline.

As long as the market stays above the 20 EMA, our view will remain bullish. We expect some more consolidation before a possible attempt at the trendline break.

Preferred Direction: Buy

Technical Indicators: 20 EMA

Resistance: 1.08501
Support: 1.07960

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BluetonaFX