I am of the opinion that EURUSD has been stuck in a symmetrical triangle for the last couple of weeks.
It recently broke upside of the descending trendline on the 28th of December. And has reached the first target at another ascending trendline - where to from here.
I am currently sitting this one out. observing where it will go next and how the analysis will play out.
It recently broke upside of the descending trendline on the 28th of December. And has reached the first target at another ascending trendline - where to from here.
I am currently sitting this one out. observing where it will go next and how the analysis will play out.
Comment:
The pair (at the time of writing this update) is still straddling the rising resistance zone in yellow.
Comment:
EU is dropping as expected. a daily close below 1.2000 would possibly open up to 1.1920 or even 1.1900.
Comment:
EURUSD dipped as predicted.
I would expect the pair to first encounter support at 1.1934 before heading to 1.19186 and down to the trend line.
I would expect the pair to first encounter support at 1.1934 before heading to 1.19186 and down to the trend line.
Trade closed: target reached
This information is provided as an opinion only and is in no way meant to be used for trading purposes.