Replies to post #855 on CURRENCY CENTRAL (fka )

[jon_e_og]

correct, a big descending wedge from end of May forming with trendline support ~ 1.2020 as well as an intraday wedge with support ~ 1.2080 that just broke down , under that I see shorterm support ~ 1.2045 ... right now the pair looks like it has a downward bias but the 1.20 figure and above should have a strong bid...
to the upside 1.2120 looks like a pivot, strong resistance and would confirm a break of the wedge if traded thru...