EUR/USD analysis (Update)
Look at my weekly analysis I did on July 31st.
EUR/USD has found support at a weekly level 1.01272. It has also formed a ascending triangle now on the daily.
Preferably I would love to see price back in the monthly zone before considering going LONG. But, a potential breakout of this pattern could also be a LONG opportunity.
This is, in my opinion, the most likely scenario.
On the other hand, if price choose to breakout to the downside of the pattern and also the support level at 1.01272, I would look for a SHORT opportunity.
What are your thoughts?
EUR/USD has found support at a weekly level 1.01272. It has also formed a ascending triangle now on the daily.
Preferably I would love to see price back in the monthly zone before considering going LONG. But, a potential breakout of this pattern could also be a LONG opportunity.
This is, in my opinion, the most likely scenario.
On the other hand, if price choose to breakout to the downside of the pattern and also the support level at 1.01272, I would look for a SHORT opportunity.
What are your thoughts?
Disclaimer
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.