💵EURUSD - Potential Triangle Break
Updated
HI Everyone,
Here are our thoughts on EURUSD on the 1H timeframe. It is currently in a symmetrical triangle and looks to be getting closer to a break. With the overall trend being down at the moment we are expecting a break to the down side. For those looking at shorting wait to see a confirmed break below the 1.11500 - 1.11400 zone. A good setup would be to wait for a retest and rejection on the lower trendline increasing the probability for further downward movement.
Let us know your thoughts.
Here are our thoughts on EURUSD on the 1H timeframe. It is currently in a symmetrical triangle and looks to be getting closer to a break. With the overall trend being down at the moment we are expecting a break to the down side. For those looking at shorting wait to see a confirmed break below the 1.11500 - 1.11400 zone. A good setup would be to wait for a retest and rejection on the lower trendline increasing the probability for further downward movement.
Let us know your thoughts.
Note
Hi Traders,Here is an update regarding the EURUSD. So we have broken out of the triangle, now what? There are 2 zones that we are looking at for a bounce that will rally back for a retest on the lower trendline.
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.