Sideways Movement (Rising Wedge)

The pair is still inside the channel, however the rising wedge formation is still in play as higher lowers and lower highs are forming, therefore suggesting a bearish breakout.

At the moment catching the trade along the channel (C1) seems to be the most viable option as the EMA’s have maintained a relatively neutral position prior to any confirmed breakout.

NB!! Given the plausible Rising wedge, holding bearish trades along the channel is advisable. Stop losses are key.

Comentarios:

The pair is heading towards the ceiling of the C1 channel and i have now placed a pending trade (sell limit) at the C1 level 1.35069.