EUR/USD -19/9/2022-

• Descending bearish channel on daily chart
• As you can see, Euro Dollar has been trading in waves within a descending channel with each wave breaking and making a new bottom at least by 200 pips lower than the previous one
• However, during the last wave we are in now, sellers seem exhausted and unconvinced
• The new low is barely within 100 pips than the previous low, which puts us in a consolidation phase
• Consolidation phase so breakout soon, either ways
• Consolidation meaning neither buyers or sellers dominate; and that is because markets are waiting the FED decision to engage again
• I don't expect a breakout before Wednesday or even Thursday out of the 0.99-1.01 range
• Updates to be posted later this week, probably after FED's decision

Trading recommendations:
• Buy on a solid and successful breakout above the channel, stop loss below the upper trend line
• Sell on a confirmed break below recent range, or on a failed breakout above the upper trend line with stop loss above it