FX:EURUSD Euro Fx/U.S. Dollar
This is a Long term trade but ofcourse shorter even intraday trades could be taken, in that case target the bottom of the wedge, the diagonal resistance line (white line) is very strong, we also have a confluense of the 38,2 retracement level, we can see that this line is going into the rising wedge pattern and therefore hindering price to make a higher high, this will be seen as weakness, and the pattern is , we also have a confluence of the high, A, another thing supporting this idea is that, the bottom where this rising wedge starts, is not a fibonacci level, in fact, the wedge is in between the 50% and 61,8% fibonacci levels. the market allways reverse at one of those levels, it have allways done so, wich favour a huge move down to the 61.8% as the first target, (not on chart) thereafter for the final target, is the lower trendline at weekly, we have the , the downtrend is strong. should be a high probability trade. good luck!