Currently leaning bearish on EURUSD as price action appears to be forming a rising wedge pattern, which is typically a bearish reversal structure.
As seen on the chart, price is making higher highs and higher lows, but the momentum is weakening while staying within converging trendlines. This suggests that buyers are gradually losing strength.
Additionally, price is approaching a key resistance zone near the top of the wedge.
The structure looks increasingly compressed, indicating a potential breakout soon.
Expecting a breakdown below the lower trendline of the wedge. If confirmed, this could lead to a stronger bearish move, potentially targeting previous support levels.
Invalidation:
A clean breakout above the wedge resistance would invalidate this bearish idea.
As always, wait for confirmation before entering.
As seen on the chart, price is making higher highs and higher lows, but the momentum is weakening while staying within converging trendlines. This suggests that buyers are gradually losing strength.
Additionally, price is approaching a key resistance zone near the top of the wedge.
The structure looks increasingly compressed, indicating a potential breakout soon.
Expecting a breakdown below the lower trendline of the wedge. If confirmed, this could lead to a stronger bearish move, potentially targeting previous support levels.
Invalidation:
A clean breakout above the wedge resistance would invalidate this bearish idea.
As always, wait for confirmation before entering.
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.