The week began rather uneventfully for this currency pair. The price has yet to decide on the direction of its next move, maintaining a sense of intrigue. It appears that an attempt to rise is likely, which could push the price toward the upper boundary of the pattern. This would complete wave c of 5, and with it, the entire wave structure forming a diagonal triangle.
This creates an interesting trading opportunity: entering short positions after a touch of the channel’s upper border. The target for the anticipated decline lies at the opposite end — the lower boundary.
Investment idea: SELL 1.1800, SL 1.1835, TP 1.1580.
Origin: FreshForex
