When looking on the left, it looks like the channel might break soon. Because the last bump up (green circle), failed to move above the previous high and already testing the channel again. This increases the chances for a downwards break. On the right we can see a bullish wedge
, indicating it will move up short term. Usually, if the direction is down, we should see this wedge
fall short of the target. So moving like the blue line, staying below the 111.7ish. If the wedge
fails and breaks down, we should see an acceleration down.