Wedge Reversal at EURUSD

A Wedge chart pattern has formed at the major cross of EUR\USD. The Wedge is a reversal pattern that leads to the end of current trend and the beginning of move to the opposite direction. In this case, bearish movement. Unlike channel which signals that the trend is strong and healthy, the Wedge which consists of the congestion trend lines show that the trend is not well and is about to fade.

Trading: If price reaches the last high and performs a reversal, enter short. Do not trade pullback to the wedge or the breakout itself, as these are not profitable entries.