EURUSD, Confirmed Triangle, Building More Upside Potential!

Hello, Traders Investors and community, welcome to this analysis about the price action happening in EURUSD, I discovered some significant events happening the past days which will affect price-action further the next time. We are watching on the daily chart.

When looking at my chart you can see that EURUSD traded in a huge triangle which finally confirmed to the upside. This triangle had also the potential to break to the downside therefore it was very important to wait for the confirmation in this structure. As you can see in my chart the upper boundary of the triangle confirmed with a very nice bullish engulfing candle that shot the price from 1.0835 to 1.09685 in just one day which is a highly bullish sign.

We had also a second confirmation at the 100-EMA which built a logical confluence-zone together with the upper boundary of the triangle and after that, the price came above the 350-EMA which is at all a good structure for further continue. We can expect a second confirmation of the 100-EMA the next hours and days as you can see it in my chart, from there EURUSD has definitely room to move higher.

The next meaningful resistance-zone is at 1.10567 which you can see in my chart after we approach this level EURUSD can move higher 1.11489 level which has build resistance from the top of the triangle. The overall structure still looks decently bullish and we have definitely room to move higher, will be interesting to see how we advance.

Thanks for watching the analysis, have a good day, and support for more market insight! ;)
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In this manner: FAREWELL

Information provided is only educational and should not be used to take action in the markets.