Rising Wedge, rejection area, $ weakness

Good opportunity to short for a 38% to 50% correction: 1.3260 to 1.3220

Reasons for the trade:

1. Rising Wedge formation at top - a break below the support line would trigger a short position
2. Rejection area above 1.3400 - market could not close above it.
3. Dollar weakness could last a couple more days after Friday's decline.

Safe trading!
Iulian

Commento:

The wedge has been broken to the downside!

If the GDP surprises the market positively we will have the extra boost needed for the pair to make a decisive move towards 1.3250