EUR/USD H4 Analysis
Price is moving within a Rising Wedge which is often seen as a reversal pattern as price action gets squeezed into the apex of the triangle until it breaks lower.
Look for price to turn bearish, we may see this after forming a double top or after breaking the last swing high. There is divergence on the 4 hour MACD which suggests that the buying pressure is decreasing.
Targets would be the bottom of the wedge with extended targets lower if price breaks out.
Look for price to turn bearish, we may see this after forming a double top or after breaking the last swing high. There is divergence on the 4 hour MACD which suggests that the buying pressure is decreasing.
Targets would be the bottom of the wedge with extended targets lower if price breaks out.
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