Chart of the day: EUR/USD [Video]

Blake Morrow Forex Analytix

Over the weekend on the 'Week Ahead" video, I didn't think it would be possible for the EURUSD 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, the EURUSD 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, and I think this could set the pace for the rest of the currency market in the days ahead.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

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