The market formed a triangle formation on the 1H timeframe.
EURUSD
might create a potential fakey pattern, which is basically a fake breakout of the triangle pattern. The price is consolidating in anticipation of the upcoming news reports. I think the market will spike up, take the liquidity, and then move. If the price rejects the key resistance at 1.07000, then we can expect the price to move lower. I expect the price to move lower from the key resistance zone, potentially making new lows. My goal is the support level at 1.05800
EURUSD
might create a potential fakey pattern, which is basically a fake breakout of the triangle pattern. The price is consolidating in anticipation of the upcoming news reports. I think the market will spike up, take the liquidity, and then move. If the price rejects the key resistance at 1.07000, then we can expect the price to move lower. I expect the price to move lower from the key resistance zone, potentially making new lows. My goal is the support level at 1.05800