πŸ” EUR/USD Waits for Break of Rising Wedge Chart Pattern πŸ”

2 min read

Hi traders,

The EUR/USD is moving sideways and showing choppy price action in recent days. The EUR/USD is respecting the 61.8% Fibonacci level of potential wave 4 (blue), which remains a key decision zone.

EUR/USD

4 hour


The EUR/USD break above the 61.8% Fib could start a bullish move back up towards the resistance zone of the downtrend channel whereas a bearish bounce at the Fib and break below the channel could indicate a downtrend continuation and thereby confirm the wave 3 (blue).

1 hour


The EUR/USD remains in a critical decision zone and is awaiting a break of the support and resistance trend lines of the rising wedge triangle chart pattern.

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Good trading,
Chris Svorcik
Elite CurrenSea

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