Daily chart – Bullish break from symmetrical triangle is pretty much a done deal
A rebound from 1.3065 on Thursday has put in place a higher bottom formation and we also have a bullish break from symmetrical triangle formation.
Thus, one may be compelled to think, the doors are open for a sustained rally in the pair.
However, the spot needs to break above 1.3279 (Aug 26 high) as such a move would complete higher tops and higher bottoms formation.
Overall, caution is still advised as long as the spot is below 1.3279.
A rebound from 1.3065 on Thursday has put in place a higher bottom formation and we also have a bullish break from symmetrical triangle formation.
Thus, one may be compelled to think, the doors are open for a sustained rally in the pair.
However, the spot needs to break above 1.3279 (Aug 26 high) as such a move would complete higher tops and higher bottoms formation.
Overall, caution is still advised as long as the spot is below 1.3279.
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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.
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.