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Friday, July 30, 2021

Chart Of The Day: EUR/USD

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EUR/USD Daily Chart.

EUR/USD Daily Chart.

Over the weekend I didn’t think it would be possible for EUR/USD to hold in the wedge pattern all week ahead of the ECB rate decision. I was wrong! The wedge held all week despite all the other volatility we have seen in the FX market this week. With that being said, EUR/USD is poised for a breakout following the ECB decision. Those levels are 1.1750 for support and 1.1825 resistance now (the wedge). Be on the lookout tomorrow for a breakout. I think this could set the pace for the rest of the currency market in the days ahead.

Chart Of The Day: EUR/USD

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