Scott Barkley
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Scott Barkley in Proact Traders,

$EURUSD- Rising Wedge?

Currently we are @ 1.1832 in a rising wedge and divergence which is bearish for the pair.  If we break out we are looking for a move to the 0.382 Fibo @ 1.3085 and then continue to the 0.500 Fibo @ 1.1673 to complete a 4th corrective wave and then a 5th wave bounce. The average daily true range (ATR) for the pair currently is 92 pips.

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