The pair has being very consistent with the ascending triangle pattern having hit the lower ascending trend at 5 points and the upper trend (resistance level as well). Once the triangle has being broken through, the expectation is for the pair to reach the 0.87500 or 2.05% gained from its resistance level. I have also added the ROC momentum indicator which follows the same pattern. I'm expecting a pull back to its support trend line before a breakout occurs where the target could be tested. Price also remains above both 50 and 20 moving averages maintaining a bullish signal.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.