EUR/USD Reaches Intraday Forecast

The breakout of the Continuation Rising Wedge on the 30 minute chart has followed through to the Forecast resistance.  The lower level of the resistance area has been hit at 1.4440 but the area extends up to the 1.4470 level.  The January 5th high is 1.4484.  The key here is to watch whether prices are still finding buying support at the uptrend line support of the wedge.  The Initial Trend (T) is very low and this indicates that from here the EUR/USD could find an intraday range and transition into a sideways market after the rally that started at 1.4254.