I'm currently watching EUR/USD as it's forming an ascending triangle on the lower timeframes. Price has been respecting the lower resistance while printing higher lows - suggesting bullish pressure building up. A breakout above the upper area could trigger a larger move to the upside. My first target for the breakout sits around 1.161 based on the triangle height.
Let’s see if the momentum follows through.
Let’s see if the momentum follows through.
Trade active
Trading outside the triangle now. Retest ob the line most likely, if that one doesn't succeed, it should be confirmed.Note
And there it is, retest of upper triangle line. Now up again to confirm breakout.Note
Retest done, confirmed with next 30min close. T1: 1.161Trade closed: target reached
It was some sideways and rangeplay for quite a time now, but still then hit the target without going into stop zone. Trade closed
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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.