The price is contained in the 1.2166-1.2817 range and is progressing inside a ascendent wedge formation in a probable fourth wave potentially heading to the 1.2817 resistance to form a double top.
The pair is currently holding above both its MAs and is also pending a downside correction on the H4 timeframe.
Sell after a rejection at the top of the range/wedge with a stop loss placed at 1.2891, a target at 1.2594 and a second target at 1.2413.
This provides a risk/reward of 110/178 for the first target and 107/350 for the second target.
The price is contained in a uptrend channel and has confirmed a double top inside the 1.2575-1.2700 range(bullish flag) and has dropped from the 1.2700 resistance, while holding above both its MAs.
Sell at 1.2693 with a stop loss placed at 1.2731, a target at 1.2636 and a second target at 1.2587.
This provides a risk/reward ratio of 36/56 for the first target and 36/106 for the second target.
Goldenschild Asset Management