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EURUSD Triangle Trend and Technical Overview TP1 Reached

EURUSD Triangle Trend and Technical Overview

As seen on the H4 chart, EURUSD is forming a triangle pattern. The formation appears to be a bearish continuation pattern. – Statistically 82% –

Bearish Breakout  80% :

The baseline of the triangle resides at 1.14200. Breakout of the triangle’s baseline would trigger the bearish move. The targets of the formation : 1.13700 , 1.13100 and 1.11090. Stop Loss must be above 1.14800.

Trade is active.

Update: TP1 Reached.

Bullish Breakout 20%:

The bullish breakout – a certain level cannot be mentioned at time being but estimated level is 1.14800 – would carry the price 1.15300. Stop Loss must be below 1.14200.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

EURUSD Triangle Breakout: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

 

 

 

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