EURUSD: Big Sell Signal? Rising Wedge Alert!

Greetings Traders,

Here's a compelling setup on EURUSD for your consideration.

Currently, the pair is riding an uptrend. However, the price is closely hugging the moving averages on the monthly chart, hinting that sellers might be ready to step in. An emerging rising wedge pattern on the weekly chart reinforces this perspective.

If we witness a break in this pattern, it could be a strong sell signal, potentially pushing prices back toward the previous lows on higher timeframes. The smaller timeframes are less predictable now, but if this larger picture unfolds, I'll be scanning for optimal entry points.

Stay tuned and we'll navigate this potential opportunity together.