EURUSD | Rising Wedge

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Price formed a rising wedge pattern and was rejected by strong resistance. If we have a confirmed breakout of support trendline we can initiate a short position.

But we might have a one more bounce and pattern continues forming. In this case we should wait for confirmed retracement and confirmed breakout of the pattern to initiate short position.

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Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advice.