EUR/USD: The 1.1620 Wedge Resistance RejectionEUR/USDOANDA:EURUSDLingrid📊 The Technical Matrix The Euro is stalling out during its sharp intraday relief rally against the greenback, currently printing at 1.16108 on the 1-hour chart. 📉 While the short-term lift off the June 12 macro lows looked incredibly clean, the pair has collided directly with its primary trendline ceiling. The Wedge Frontier: The overarching price action remains strictly confined inside a massive descending Wedge pattern. The local bounce has driven the price straight into a high-confluence horizontal supply pocket (highlighted by the small pink box) at 1.1620, which intersects perfectly with the upper wedge resistance boundary. 🛑 The Purple Path Mechanics: The roadmap outlines an immediate, systematic rejection vector from this resistance block. The trajectory maps out an initial drop to test the 1.1590 minor threshold, a shallow corrective dead-cat shoulder, and a final multi-wave markdown leg to sweep the internal lower parallel trendline support near 1.1545 – 1.1550. 🔄🎯 🪤 The Pre-FOMC Breakout Trap ⚠️ The Momentum Mirage: Retail traders are eagerly chasing these consecutive green hourly candles into the start of the week, buying the top under the assumption that a major macro breakout above 1.1650 is imminent. 🤦♂️ They are completely blind to the heavy structural gravity of the multi-week descending ceiling looming directly overhead. 🏦 Institutional market makers are intentionally engineering this shallow pre-meeting upward expansion to sweep early short stop-losses and pool deep buy-side liquidity. Once the 1.1620 resistance ceiling is fully validated, commercial desks will drop their bids, leaving late breakout buyers severely trapped as the market marks down ahead of central bank volatility. 💸🔥 🎯 Operational Parameters 🛒 Optimal Short Zone: 1.1618 – 1.1625 (Fading the exact peak of the pink horizontal box intersection) 🏹 🛡️ Risk Anchor (Stop-Loss): 1.1645 (A clean 1-hour candle close above the descending macro wedge trendline invalidates the bearish script) 🛑 💰 Primary Take-Profit Destination: 1.1545 (The lower internal descending channel support line) 🚀