Euro will rise a little and then start to fall to support lineHello traders, I want share with you my opinion about Euro. After a prolonged consolidation period, a strong upward trend was initiated from the buyer zone around 1.1285, propelling the EUR significantly higher. This initial impulsive move has since transitioned into a more complex and mature phase, taking the shape of a large upward wedge formation, a pattern which often signals underlying exhaustion in the prevailing trend. Currently, the pair is operating within this defined market zone, characterized by a clear ascending support line and a corresponding resistance line. The price action inside the wedge has become corrective, with the most recent upward correction originating from the support area near 1.1575. The working hypothesis is centered on a short-term bearish scenario, which anticipates that this current rally will fail as it approaches the upper boundary of the wedge. A rejection from this resistance would confirm that selling pressure is increasing and that the bullish momentum is waning. This would likely trigger a significant downward rotation within the structure, with the immediate objective being a retest of the main ascending support line. For this reason, the TP is strategically and logically placed at the 1.1665 level, as this point lies directly on the trend line and serves as the most critical test for the existing uptrend's viability. Please share this idea with your friends and click Boost 🚀
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