Hello traders, EUR/USD fell heavily post the release of CPI data from the US last week. While I anticipated EUR/USD to fall to the 1.0740 zone, I did not expect it to break the horizontal support level.
Currently, EUR/USD is at the lower trend line of the broadening wedge pattern. While the price action does not look bullish yet, I am still considering at buy entry for EUR/USD. If price does not break the 1.0620 zone, I would consider buying EUR/USD@1.0630-1.0650 with Stop loss below the lower trend line and TPs at 1.0720 and 1.08 respectively.