EURUSD is the rising wedge breakout resistanceÂ
EURUSD is testing a rising wedge downside break resistance line 1.2166. The pair fell short of breaching above 1.2200 with the confirmation which is leaving the downside swing open after almost 500 pips upside recovery. A break below wedge resistance will open a possibility for the swing lower to 1.1700 downside resistance again. Also, this could be a flat 5th upside wave from the 2020 bottom finished.
Note – looking at the price action it is a higher probability trade to short with the stop loss above 1.2250 on a break below wedge resistance
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