EURUSD is currently in a corrective phase (ABC corrective pattern). The market has formed an expanding wedge pattern from 1.0909 to 1.1049, which is a bearish continuation pattern. We plan to wait for the price to break below the lower trendline of this expanding wedge before entering a sell trade.
A sell stop can be placed at 1.0924 to ensure immediate entry as soon as the market breaks below the lower trendline. It should be noted that if the price surpasses 1.1055, this particular setup will no longer be valid.
Origin: FreshForex
