The pair is contained in a uptrend channel and is forming a potential double top at the 1.0493 reistance while holding above both its MAs.
Arguments to go short are the double top and the rejection at the range resistance.
Sell at the current price with a stop loss at 1.0641, a target at 1.0466 and a second target 1.0357 in the case that the channel will break.
This provides a risk reward of 70/107 for the first target and 70/211 for the second target.
The pair is contained in a uptrend channel and is forming a potential double bottom indicating further downside probability.
The price is holding below the 1.0575 resistance and above both its MAs.
Sell at the current price with a stop loss placed at 1.0605, a target at 1.0521 and a second target at 1.0480.
This provides a risk/reward of 36/44 for the first target and 87/36 for the second target.
Goldenschild Asset Management