EUR/USD: STRUCTURE ANALYSIS, WEDGE PATTERN, REVERSALS

In this EUR/USD pair the trend has previously broke-out of the bullish behaviour, the trend had moved towards structure levels as yellen's speech was made which took into effect. However I have analysed this pair and interpret that a pullout may occur following another reversal leading the pair to an even more downwards point than current point. I am currently in the long stage as I do believe the trend will retrace back to previous structure to possibly set up shorts. The two parallel lines indicate possible support and resistance levels.

Opening point: 1.11613
Target point: 1.1264
Exit point: 1.11313

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