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Be aware that as the results come in, these FX pairs are open to significant, unpredictable, volatility.
EUR/USD rising wedge in play
EUR/USD has been gradually gaining overnight, with a rising wedge pattern now in play. This is typically bearish and as such, it would not be surprising to see some sort of leg lower, even if it is just a short-term retracement.
Interestingly, this pattern has formed with a top at the crucial $1.1349 resistance level, which needs to be broken to return back into a short-term uptrend. With that in mind, a short-term leg lower is expected for this morning, with an hourly close needed above $1.1349 to continue this uptrend.
