EUR/USD Bearish Setup – Wedge Breakout & Supply Zone Rejection
Description:
The price formed a rising wedge pattern, signaling potential weakness.
A sharp breakout from the wedge led to a retest of the supply zone (orange area).
The supply zone aligns with Elliott Wave 4, indicating a corrective wave before further downside.
Two concepts—Pattern Concept and SMC Concept—support the bearish bias.
Expecting a drop towards 1.03313, with confirmation from liquidity grab and order block rejections.
Description:
The price formed a rising wedge pattern, signaling potential weakness.
A sharp breakout from the wedge led to a retest of the supply zone (orange area).
The supply zone aligns with Elliott Wave 4, indicating a corrective wave before further downside.
Two concepts—Pattern Concept and SMC Concept—support the bearish bias.
Expecting a drop towards 1.03313, with confirmation from liquidity grab and order block rejections.
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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.
Related publications
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.