The euro successfully fulfilled the expected scenario by reaching the upper boundary of the channel that had been containing a prolonged upward movement, interpreted as a diagonal triangle. At this point, the pattern appears to be fully completed, and we already have confirmation in the form of a downward wave.
Buyers are putting up strong resistance, but the initiative is gradually shifting into the hands of the sellers. A decline is expected to follow, with the target being at least the lower boundary of the same channel. Given this setup, the current conditions offer a good opportunity for short positions.
Investment idea: SELL 1.1760, SL 1.1790, TP 1.1600.
Origin: FreshForex
