Ascending wedge – some call it a “rising wedge” but it is a reversal pattern ONCE the lower trend line is broken. Considering we are near the “apex” of this wedge, a downside breakout % is higher in the near term.

 

Blake Morrow

Chief Currency Strategist, Wizetrade

Disclaimer: I did short the pair today off the “upper trend line” and do plan on staying short for the coming days – weeks.