The daily chart continues to show a sideways trading pattern, forming a wedge with parameters roughly at .9950/1.0450. Such wedge patterns are generally considered to be continuation patterns, so in this case the break-out would usually happen in line with the long-term bull trend. Range trading remains the favoured short-term strategy with a buy-dips medium-term bias.
The ‘edges’ on the hourly chart are at 1.0230/1.0380 and with momentum still lacking, playing these edges also makes sense.
