4h.time frame had a breakout of the descending wedge ,also if you will take a look you will see that there is a fully formed diamond pattern. Those two patterns are bearish sign, so could be a retest of the wedge and then further move downside. But keep in mind that so far it does look also as a perfect Elliot Wave. I have marked wave 5 with a target of red straight line, what is 2023 highest point. Hard to tell which way this forex pair will choose, but I think it's worth to watch.
Trade active
Looks like it wants to make EW, but it does struggling to cross a previous high, could be a rejection here.Trade closed manually
EURUSD have made a DT on the bigger time frames, there is a possibility of a deeper tanking. Shame, that my original TP was o close
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.