This pair is trapped in a triangle.


It looks like break is coming soon. I have drawn two possibilities. On daily chart, price is supported by middle Bollinger band, so I’m more inclined that price will break upper border of triangle. At the moment price is testing WPP so let’s wait if it will be broken. Then we will wait for upper border triangle break and retest of WPP and then look for long signal on 4h or 1h chart.
Weekly trend on this pair is down, so don’t rule out short move here completely.
There is no high impact EU or Japan news in future 24 hours.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.