The chart you've shared is a 1-hour candlestick chart of the EUR/USD pair. Here's a breakdown of the technical analysis shown:
1. Ascending Triangle Breakout:
There's a clear ascending triangle pattern formed in early April.
A breakout to the upside occurred after several touches of the resistance line, indicating bullish strength.
2. Retest of Breakout Zone:
After the breakout, the price pulled back and retested the breakout zone (marked with an orange circle), which aligned with previous resistance — now acting as support.
3. Price Surge:
Following the successful retest, the price surged upwards significantly, reaching around 1.14428.
4. Forecasted Movement (in Red):
The red squiggly lines indicate a projected pullback.
The analyst expects the price to fall back to the gray box area (around 1.12000), which seems to be a major support zone.
After reaching this support, the projection suggests further bearish movement.
5. Key Levels to Watch:
Resistance: Near the current high (1.14428).
Support: Around the 1.12000 region (highlighted gray zone).
Would you like help analyzing this further or creating a trade setup based on it?
1. Ascending Triangle Breakout:
There's a clear ascending triangle pattern formed in early April.
A breakout to the upside occurred after several touches of the resistance line, indicating bullish strength.
2. Retest of Breakout Zone:
After the breakout, the price pulled back and retested the breakout zone (marked with an orange circle), which aligned with previous resistance — now acting as support.
3. Price Surge:
Following the successful retest, the price surged upwards significantly, reaching around 1.14428.
4. Forecasted Movement (in Red):
The red squiggly lines indicate a projected pullback.
The analyst expects the price to fall back to the gray box area (around 1.12000), which seems to be a major support zone.
After reaching this support, the projection suggests further bearish movement.
5. Key Levels to Watch:
Resistance: Near the current high (1.14428).
Support: Around the 1.12000 region (highlighted gray zone).
Would you like help analyzing this further or creating a trade setup based on it?
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Disclaimer
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XAUUSD GOLD + BTCUSD Daily 6-7 Free Signals📊🚀
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
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.