BLURUSD: Strong bullish breakout over the Falling Wedge

BLURUSD crossed today not just over the 1D MA50 for the first time since July 14th but more importantly the top of the Falling Wedge pattern that has never been broken in its history. This turned the 1D timeframe technically overbought (RSI = 70.700). Since however the 1D MACD is on a Bullish Cross under the 0 neutral level, which means that it was massively oversold for a long time and the 1D RSI itself is on a massive Bullish Divergence, we may not see a pullback just yet.

It is more likely to hit the 1D MA100. A candle close over it, will be the bullish entry to look for for the medium term. Target the R1 level (TP = 0.39500).

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