Trading in this pair has been going on within a certain ascending channel for almost the entire month, with periodic attempts to both grow and sharply decline. However, the boundaries of the channel remain intact, and the start of the trading week is unlikely to change.
This may be due to the development of the final Wave 5 of the upward impulse, taking the form of an ending diagonal triangle. Completion of this model requires one more upward wave. Judging by appearances, we will see this movement soon.
Then a reversal and an impulsive decline are expected. In the current situation, it is recommended to wait for the completion of the specified model, after which to seek opportunities to enter into sell transactions.
Investment idea: Flat.
Origin: FreshForex
