After failing to keep gains above 1.23 for four straight trading days, EUR/USD finally found acceptance above the psychological hurdle on Wednesday.
However, readers should note that the rally from the November low of 1.1602 has taken the shape of a rising wedge. The pattern comprises converging trendlines connecting higher lows and higher highs and is considered a bearish reversal pattern.
However, readers should note that the rally from the November low of 1.1602 has taken the shape of a rising wedge. The pattern comprises converging trendlines connecting higher lows and higher highs and is considered a bearish reversal pattern.