EUR/USD Bearish Setup – Wedge Breakout & Supply Zone Rejection
Description:
The price formed a rising wedge pattern, signaling potential weakness.
A sharp breakout from the wedge led to a retest of the supply zone (orange area).
The supply zone aligns with Elliott Wave 4, indicating a corrective wave before further downside.
Two concepts—Pattern Concept and SMC Concept—support the bearish bias.
Expecting a drop towards 1.03313, with confirmation from liquidity grab and order block rejections.
Description:
The price formed a rising wedge pattern, signaling potential weakness.
A sharp breakout from the wedge led to a retest of the supply zone (orange area).
The supply zone aligns with Elliott Wave 4, indicating a corrective wave before further downside.
Two concepts—Pattern Concept and SMC Concept—support the bearish bias.
Expecting a drop towards 1.03313, with confirmation from liquidity grab and order block rejections.
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