On April 24, the Power of the Pattern shared that the Euro looked like it was hitting a price peak and should turn weak in the near future. Why did it look like the single currency was about to peak 5 weeks ago? Because it was creating a bearish, rising wedge, up against falling channel resistance and it was easy to find investors bullish the Euro (65% bulls at the time).
The chart is an update to the Euro posting of 5 weeks ago, reflecting that the Euro is breaking support of the rising wedge after creating a bearish wick at the top of the channel.