Consolidation Triangle (One More Time) / H4 /
Updated
One more time, we have nice consolidation triangle on EURUSD. Last time it broke the support TL and went down.
This time we have almost the same setup. If price breaks resistance TL - we should see retest of 1.20ish zone.
On the other hand if we see break of support - we will look to 1.1520 as support and further break below would indicate possible drop towards 1.10 area (longer term).
Bullish scenario is more likely ATM, but we're open to all possibilities. Sit back and wait for breakout :)
This time we have almost the same setup. If price breaks resistance TL - we should see retest of 1.20ish zone.
On the other hand if we see break of support - we will look to 1.1520 as support and further break below would indicate possible drop towards 1.10 area (longer term).
Bullish scenario is more likely ATM, but we're open to all possibilities. Sit back and wait for breakout :)
Note
Bearish move still not completely confirmed. We had breakout but not proper retest, still waiting for confirmation on break. However, DXY 95.00 seems to be acting as support now. If we see bounce from here, we see EUR falling one more time to 1.1520 zone.
Note
Waiting for Draghi, can fifth attempt break the BIG RED resistance line?
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