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technical analysis of EUR/USD

This chart shows a detailed technical analysis of EUR/USD. Key patterns identified are:

1. Bearish Pennant (red): A continuation pattern formed during a downtrend, which led to a significant bearish breakout.


2. Rising Wedge (green): A bearish reversal pattern observed after a minor bullish retracement, indicating potential for a price decline.


3. Trade Setup:

Entry Point: Positioned after confirmation of the rising wedge breakdown.

Stop Loss: Placed above the recent high for risk management.

Target: Aligned with the height of the wedge and expected bearish momentum.




This analysis suggests a bearish outlook for EUR/USD, with precise levels for entry, stop loss, and target clearly marked.
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