On the pair prices are also forming an ascending wedge.
Rising wedge are market reversal patterns
This tends to push the bearish scenario of the previous analysis.
The pattern that the market could resume its bearish trend
This is a pattern where it is easy to identify the exit target.
For the EURUSD, this target is somewhere on the parallel line at the bottom of the chart.
We can see that this is roughly in line with the pair's parity area.
But now is more of a pullback, which if validated will take the pair to act 4.