EURUSD is currently consolidating just below the resistance zone at 1.12000, forming an ascending triangle pattern. This is typically considered a trend continuation pattern, indicating a bullish sentiment. The price has bounced off the resistance level twice, and a third test could lead to breakout. A doji candle on the weekly timeframe suggests indecision and a breakout above the previous week's high or a drop below the low could propel the price, potentially initiating a new trend. Given the current market dynamics, it seems plausible to expect a false breakout below Friday's low, which could then lead to new highs. My target is resistance zone around 1.12400Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.