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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✅Join My Telegram Channel: t.me/VasilyTrading
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✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
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.