The price is moving in a range. Bulls manage to keep the price above the trendline and bearsbelow the resistance at 1.5675. The formation shows bulls win but the number of tries to go over this level show that buyers might start to loosing their power so a breakout of the trendline and a retest of the blue trendline is possible. Anyway, a breakout is wanted always with attention on the candlestick patterns.
Here a breakout trading idea. The Long Trigger is the neckline of the shs. I have illustrated 2 possible Long positions, one is ultrashortterm the other shortterm :-)
The Szenario is only active if theprice of the pair will not be fall below the level of the left shoulder