EURUSD - Break Up, Or Break Down?

FX:EURUSD   Euro / U.S. Dollar
A symmetrical triangle was drawn on the EURUSD             60 mins chart. At this point there is an equilibrium. The triangle (theoretically) signals a continuation of the previous trend, while fundamentals are still favoring a fall. I say it could be better to wait for a confirmation. An up break could trigger a rally to 1.3664 (first target), while a down break could signal a drop to 1.3540 or lower.
1.35 hit
+1 Reply
Great chart, Thanks Razvan
Razvan hassaninahmad
Thank you!
I hope this was not a false breakout because I'm in sales mode ? :-/ Razvan good prediction, very important to me.
Razvan xnedja
It was not, it has fallen enough to consider it a true breakout.
Up, theres nice fib confluention 0.5 ret fib and 1.272 right at 1.3749. We also didn't violete prev lows, thats my opinion.
with positive suprise GBP's CPI ... i wonder we ll shorting sooner or later ...
nice one, ty
Nice analysis as always Razvan. I personally don't trade symmetrical triangle but I'm interested about how you see the situation. Again this pair is at a very important level 1.3600. To me the triangle is just showing the market is OK with this level for now. The questions is: those who accumulate around this level, where will drive the price? :)
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