The 4-hour chart of EUR/USD has given a break out from the pennant pattern.
It is currently moving towards the strong support zone of 1.15099.
It has bounced back from the same point twice. A strong downtrend can precipitate only if it breaks the support zone.
Else, the pair can bounce back and get trapped in a sideways pattern.
It is currently moving towards the strong support zone of 1.15099.
It has bounced back from the same point twice. A strong downtrend can precipitate only if it breaks the support zone.
Else, the pair can bounce back and get trapped in a sideways pattern.
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Disclaimer
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.