1. Our EUR/USD trade has reached its take-profit level last week as expected and is now facing selling pressure at the upper wedge resistance.
2. That price-level aligns with the 61.8% Fib level and a horizontal resistance zone, signaling a potential continuation of the underlying downtrend.
3. Notice that the RSI has already reached its recent high, showing that the recent up-move in EUR/USD is losing momentum.
4. The pair is also forming an indecisive daily candlestick as buyers are losing steam and sellers are joining the market.
2. That price-level aligns with the 61.8% Fib level and a horizontal resistance zone, signaling a potential continuation of the underlying downtrend.
3. Notice that the RSI has already reached its recent high, showing that the recent up-move in EUR/USD is losing momentum.
4. The pair is also forming an indecisive daily candlestick as buyers are losing steam and sellers are joining the market.
