EURUSD: Where are We Going? Price Action Analysis
Updated
EURUSD is currently stuck within an expanding triangle formation on 4H.
Its lower boundary is based on a major horizontal daily/4h support.
Its upper boundary is based on a strong 4H rising trend line.
The breakout of its boundaries will clarify the future long term direction of the market.
If we see a bear breakout of horizontal support,
it will most likely lead to a start of a long term bearish trend on a pair.
If we see a bullish breakout of its trend line, bullish continuation will most likely follow.
For intraday trading, both boundaries can be considered.
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