Blake Morrow’s Chart of The Day – July 22nd 2021
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.