The EUR/USD 1-hour chart demonstrates a clear technical setup and outcome:
1. Falling Wedge Pattern (Bullish Reversal):
The chart initially displays a falling wedge formation between May 20 and May 22, a classic bullish reversal pattern.
This is highlighted in blue and orange lines, and the price broke out to the upside, signaling a strong bullish momentum.
2. Breakout & Upward Momentum:
After the breakout, the pair surged upward, validating the bullish setup from the falling wedge.
The price moved significantly higher, eventually reaching a marked entry zone around the 1.13765–1.13934 area.
3. Bearish Reversal & Target Setup:
Following the rally into the resistance zone, a bearish reversal occurred, indicated by the sharp drop after the "ENTRY" level.
The chart shows a clear projection downwards, annotated with a black zigzag arrow leading to a target area.
4. Target Achieved:
The price precisely hit the marked "Target" level around 1.13163, confirming the success of the bearish setup.
This is highlighted with a downward blue arrow and the label "Target achieved ✨✨", showing the fulfillment of the trade plan.
1. Falling Wedge Pattern (Bullish Reversal):
The chart initially displays a falling wedge formation between May 20 and May 22, a classic bullish reversal pattern.
This is highlighted in blue and orange lines, and the price broke out to the upside, signaling a strong bullish momentum.
2. Breakout & Upward Momentum:
After the breakout, the pair surged upward, validating the bullish setup from the falling wedge.
The price moved significantly higher, eventually reaching a marked entry zone around the 1.13765–1.13934 area.
3. Bearish Reversal & Target Setup:
Following the rally into the resistance zone, a bearish reversal occurred, indicated by the sharp drop after the "ENTRY" level.
The chart shows a clear projection downwards, annotated with a black zigzag arrow leading to a target area.
4. Target Achieved:
The price precisely hit the marked "Target" level around 1.13163, confirming the success of the bearish setup.
This is highlighted with a downward blue arrow and the label "Target achieved ✨✨", showing the fulfillment of the trade plan.
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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.
Disclaimer
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.