EURUSD Analysis

FX:EURUSD   Euro / U.S. Dollar
31 0 0
Guys, as you could see I pointed out the big triangle we see on the daily graph. Besides that the price is around 200 MA at this moment which has always been a good support&resistance point. It has the same correlation with the oscillators which I only sort Stochastic out. Stochastic is oversold and we should wait the cross and the close above 1.116 (200 MA) I suppose, if it closes above, this would be its 3rd try to break the triangle and if the triangle breaks its H is almost 11 cents and in the long run EURUSD             could test 1.22 which is the 50% fibonacci of the drop from 1.39xx to 1.04xx.

Anything can happen so your SL's should be under the triangle, and TP 1 is 1.18 then TP 2 would be 1.22. This is not for the short term or intraday traders. Be aware!

Kindest regards,
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