? EUR/USD Awaits Breakout of Triangle Chart Pattern ?

2 min read

The EUR/USD moved up yesterday but price action was unable to break above the key resistance trend line (red). A bullish break is needed before wave C (purple) can be confirmed.

EUR/USD

4 hour

The EUR/USD is moving sideways in a tight consolidation zone. A bullish break could see price move up to the previous top which is indicated by the red box whereas a break below the support trend lines could indicate that a wave 4-5 pattern is still active.

1 hour

The EUR/USD triangle pattern is key for the next breakout. Price will need to either break below the support trend lines or resistance trend line for a new direction.

Good trading,
Chris Svorcik
Elite CurrenSea

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