Descending triangle is getting narrow ,soon should be a breakout to one of the sides. I have shared 3 posable scenarios. One bearish and two bullish. I would like to think that EurUsd pair will have a breakout towards north. So far price have defended 0.5% of fib retracement, what matches ema200 as well. There could be not only a descending triangle, but perfectly matches a bullish pennant pattern. Daily chart also is slowly forming a bullish flag. So few bullish patterns are in a play so far. Just need to wait and see which way this pair will go.
Trade closed: target reached
EU had a nice bull run, atm price is at 1.11200
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.