EURCAD Forming An Ascending Triangle

The EURCAD is forming an ascending triangle on the 4H chart. This pairs success rate is 68% on the 4H and the ascending triangle has a 75% success rate for all pairs monitored by our algorithm. The top of the ascending triangle is close to the 38.2% Fib extension. When support or resistance lines up close with a Fib extension figure and that area is broken the moves tend to be quite strong.

We will be going long approximately 20 Pips above 1.44320, our profit target will be 1.45100 - 1.45800. Our stop will be set 1.42500.