Following Draghi's string message regarding interest rate cuts, or stimulus in June, EURUSD falters at a key level. I suspect we are witnessing a longer-term bearish wedge in motion but that is not to say we will not see more highs as this pattern drags out. It also leaves room for some wild 500-600 pip swings, so not exactly a pattern to be trading for most (not to mention is isn’t even confirmed yet). We can see the clear bearish engulfing close yesterday, with the upper spike rejecting the 1.40 resistance zone. Inset I have provided the Currency Futures chart to show the close was on notably increased volume to ... (full story)