Rising lows formation is already in place. All we needs is a break above 1.0829. Such a move would establish a rising tops formation as well.
Rising tops and rising lows formation was last established in early Feb 2016, which topped out in May 2016.
Also note, the bollinger band width has been flat for almost a year - late 2015 to late 2016. A similar flat action between mid 2013 to mid 2014 was led by a sharp widening of the band width and a sell-off in the EUR/USD.
Will the history repeat itself?
Rising tops and rising lows formation was last established in early Feb 2016, which topped out in May 2016.
Also note, the bollinger band width has been flat for almost a year - late 2015 to late 2016. A similar flat action between mid 2013 to mid 2014 was led by a sharp widening of the band width and a sell-off in the EUR/USD.
Will the history repeat itself?
