EUR/USD wedge break points towards potential upside
EUR/USD has managed to rally through trendline resistance, completing a bullish breakout from the falling wedge formation in play over the past week. This points towards a potential bullish phase coming into play this week.
However, it makes sense to watch out for a rally through $1.1432 to confirm this bullish view. Until then, the downtrend remains intact, with the price continuing to create lower highs and lower lows after Friday’s rally into the 76.4% retracement.