The chart shows the last week’s movement. It is obviously corrective in nature and is moving in a clearly defined upside channel. We are currently at the lower trendline of the channel and could see a break below it as well as a rebound from it and subsequent move to the upper trendline. With an eye on the current uncertainty I gave a strategy to exit the previous short positionearlier today and will give another strategy when I see a break or a rebound of the trendline shown on the chart. In a case of a down break, I will expect a fall at least to 1.4540. In a case of a rebound I expect a new high above 1.4708

Trading strategy: 06:58 EST; 11:58 GMT

Stand aside

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.