EUR/USD - will it go up or down

When I look at the daily chart, I see a downward wedge formation and then there is a breakout to upside. This I believe is an indication that it will continue to go up. But it is getting close to 61.8% Fibo level and there is a chance of retracement… What do you think will happen


Hello Shanmugan,
The EUR/USD pair jumped above the 1.0800 strong psychological level and it may expose until the 1.0870 resistance barrier. As you can see if you go to the 4-hour chart, the pair is developing within an upward sloping channel and the price will find the way to hit the return line.