Breaking News

Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

EUR/USD: Strong Minor Reversal Up From Nested Wedge

By Al BrooksForexApr 08, 2021 09:45AM ET

www.investing.com/analysis/eurusd-strong-minor-reversal-up-from-nested-wedge-200571957

By Al Brooks | Apr 08, 2021 09:45AM ET

Saved. See Saved Items.

This article has already been saved in your Saved Items

EUR/USD is currently experiencing a possible micro double top in a 4-month bear channel. Following the wedge bottom, the 2nd leg up is likely.

If there is a selloff, it will probably only last a few days, and will reverse back up from a higher low.

A reversal up from a wedge bottom typically comprises at least 2 legs up, and it usually reaches the top of the most recent sell climax, which was the Mar. 18 high at the 1.20 Big Round Number.

EUR/USD Forex daily chart

EUR/USD Strong Minor Reversal From Nested Wedge - Daily Chart

Overnight EUR/USD forex trading on 5-minute chart

Traded a fraction of a pip below yesterday’s low and reversed up.
In very tight trading range overnight. Day traders are buying reversals up, and selling reversals down from 10-pip scalps.
Day traders will continue to scalp unless there is a strong breakout up or down, which is unlikely today.
Since the rally on Monday and Tuesday was extreme, there's probably limited up side from here without more sideways to down.
Traders are looking to buy a pullback on the daily chart, which reduces the chance of big bear day.

Comments (2)

EUR/USD Forming Minor Parabolic Wedge Top By Al Brooks - Apr 09, 2021

o Bear bar after three small legs up in tight bull channel, so parabolic wedge top. o Bears hope this is end of leg up in bear channel that began on Jan. 6, and want...

Is AUD/NZD Ready To Rebound Soon? By JFD Team - Apr 09, 2021

AUD/NZD traded lower and today during the European session, after it hit resistance at 1.0865. Overall though, the pair continues to balance above the upside support line drawn...

Will Canada Job Report Boost Canadian Dollar? By Kenny Fisher - Apr 09, 2021

The Canadian dollar has reversed directions on Friday and recorded slight gains. Currently, USD/CAD is trading at 1.2592, up 0.25% on the day. It has been a relatively quiet day...

Add a Comment

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically.
Use standard writing style. Include punctuation and upper and lower cases.
NOTE: Spam and/or promotional messages and links within a comment will be removed
Avoid profanity, slander or personal attacks directed at an author or another user.
Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read Investing.com's comments guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

Comments (2)

Douglas Stivanelli Apr 08, 2021 11:07PM ET

Follow this post

Unfollow this post

Save

Saved. See Saved Items.

This comment has already been saved in your Saved Items

Block User

Thank you Mr. Brooks.....

0 0

Report

Hadi Warsito Apr 08, 2021 12:56PM ET

Follow this post

Unfollow this post

Save

Saved. See Saved Items.

This comment has already been saved in your Saved Items

Block User

Thanks for the update. Keep posting EURUSD analysis. I will make sure to come back for the latest tips daily.

0 0

Report

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="225322345">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.akamaized.net/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="225322345" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow js-option blockUser js-block-option" data-comment-id="{commentID}"  data-user-id="225322345">
			<a href="javascript:void(0);">
				<span class="blockIcon middle"></span>Block User			</a>
		</div>
				<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d1-invdn-com.akamaized.net/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="225322345">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
						<a href="javascript:void(0);" id="commentFlag_{commentID}">
							<span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
						</a>
					</div>
				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.akamaized.net/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d1-invdn-com.akamaized.net/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d1-invdn-com.akamaized.net/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

I feel that this comment is:

Spam

Offensive

Thank You!

Your report has been sent to our moderators for review

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

More Categories

1D1W1M6M1Y5YMax

US 30 Futures	33,642.0	+252.0	+0.75%
US 500 Futures	4,113.88	+24.88	+0.61%
Dow Jones	33,800.60	+297.03	+0.89%
S&P 500	4,128.80	+31.63	+0.77%
Nasdaq	13,900.19	+70.88	+0.51%
S&P 500 VIX	16.69	-0.26	-1.53%
Dollar Index	92.180	+0.111	+0.12%

Crude Oil WTI	59.34	-0.26	-0.44%
Brent Oil	63.01	-0.19	-0.30%
Natural Gas	2.521	-0.001	-0.04%
Gold	1,744.60	-13.60	-0.77%
Silver	25.315	-0.270	-1.06%
Copper	4.0470	-0.0475	-1.16%
US Soybeans	1,402.88	-12.12	-0.86%

SPDR S&P 500	411.49	+2.97	+0.73%
iShares Russell 2000	222.59	+0.03	+0.01%
Invesco QQQ Trust	337.11	+2.03	+0.61%
Direxion Daily Junior Gold Miners Bull 2X Shares	91.20	-0.62	-0.68%
iShares Silver	23.41	-0.21	-0.89%
ProShares Ultra VIX Short-Term Futures	4.85	-0.01	-0.21%
ProShares UltraPro QQQ	107.27	+1.91	+1.81%

Apple	133.00	+2.63	+2.02%
Alphabet A	2,270.67	+20.24	+0.90%
Tesla	677.02	-6.78	-0.99%
Amazon.com	3,372.20	+72.90	+2.21%
Netflix	555.31	+0.73	+0.13%
Facebook	312.46	-0.56	-0.18%
Bank of America	39.99	+0.29	+0.73%

	Interest Rates	Next Meeting
FED	0.00%-0.25%	Apr 28, 2021
ECB	0.00%	Apr 22, 2021
BOE	0.10%	May 06, 2021
SNB	-0.75%	Jun 17, 2021
RBA	0.10%	May 04, 2021
BOC	0.25%	Apr 21, 2021
RBNZ	0.25%	Apr 14, 2021
BOJ	-0.10%	Apr 27, 2021
CBR	4.50%	Apr 23, 2021
RBI	4.00%	Jun 04, 2021
PBOC	3.85%
BCB	2.75%	May 05, 2021

EUR/USD: Strong Minor Reversal Up From Nested Wedge

EUR/USD Forex daily chart

EUR/USD Strong Minor Reversal From Nested Wedge - Daily ChartOvernight EUR/USD forex trading on 5-minute chart

Related Articles

EUR/USD Strong Minor Reversal From Nested Wedge - Daily Chart

Overnight EUR/USD forex trading on 5-minute chart