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On this major we can see that is forming a rising wedge pattern. This pattern is caracterized such as:
The important Rising Wedge Pattern, when verified near a significant resistance has a high probability of becoming a bearish reversal pattern.
The maximum of last week ( 1.6603), see the horizontal bl…
- A continuation or reversal pattern,
- Price forms higher swings highs and higher swing lows wich both converge towards one point,
- The pattern is confirmed on a break of the lower trendline of pattern.
The important Rising Wedge Pattern, when verified near a significant resistance has a high probability of becoming a bearish reversal pattern.
The maximum of last week ( 1.6603), see the horizontal bl…