EUR/USD
Strategy: Pending Short
Overall EURUSD has been unchanged for some time now: the weekly chart shows a Rising Wedge formation, hinting at ebbing bullish momentum and a forthcoming downward reversal. A bit of urgency may be entering the picture as prices hint at a possible Bearish Engulfing, though we need to see the close of the current candle for that to be verified. If the formation materializes, however, there is a good chance that it will be followed by a break of the wedge bottom (now at 1.4706), at which point we will look to enter short targeting near the 1.45 mark.
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