EUR/USD: ascending triangle pattern
EUR vs USD created ascending triangle pattern in H1 timeframe. But we need compare it with the bigger timeframes also. In H4, EURUSD wanna break trendline and want to go downside. In Daily timeframe , it show us strong level between 1.0636 and 1.0776.
Now, what will think for further analysis? Let's research now.
Strong pattern is ascending triangle . It supports by breaking trend line in H4 also. This situation is a simple reminder for jumping up. But we should remember that EURUSD is high volatile pair and any fundamental or technical news can affect it positively or negatively.
In my opinion:
EURUSD will break trendline in H4, follow strong barrier in Daily timeframe . We can put:
SELL LIMIT at 1.0733
TARGET 1.0405
STOP LOSS 1.0805
or
SELL STOP at 1.0560
TARGET 1.0405
STOP LOSS 1.0743
These are only forecast. Do not forget to use SL in own trading. Trading without stop loss and bigger lots can cause heavy losses.
Good luck!
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.