EURUSD H4 in descending wedge, potential for bounce

EURUSD H4 in descending wedge, potential for bounce for FOREXCOM:EURUSD by FXCM

EURUSD H4 in descending wedge, potential for bounce


Price is currently in descending wedge where we expect the price to swing towards descending trendline resistance at 1.18044. Both RSI and MACD indicate negative divergence where bearish price action could be limited and a potential bounce could occur. If the price continues to drop, it would swing towards support at lower trendline wedge .

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