With US Interest rates meetings looming and talks of rises a bearish move on this pair may be very likely.
Rising wedge pattern. Bearish breakout has occured aswell as a retest of the trend line so potentially a great opportunity to short.
Thanks for looking!
Comments
KVE
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Smaller time-frame possibilities?
Trilo
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Of course! Nice patterns. A suggestion regarding your stops may need to be increased due to increased volatility due to US meeting regarding interest rates. In particular the long entry around C point where ABCD completes, I would probably avoid that pattern especially if it breaks previous support level (B point). Good luck and happy trading!!
KVE
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Thanks 4 the feedback, very much appreciated. You're absolutely right, as in my intro of the idea: not necessarily planning on trading it before the FOMC decision!
Cheers,
Kurt