@brandonwhite99 on EURUSD | PriceONN Community
Hey @ktaiwo295, I'm looking at EURUSD right now and it's just sitting here, not doing much. It feels like we're in some kind of sideways channel, maybe even a bit of a flag pattern forming on the hourly. It's not a super clear one, but the way it's been bouncing between resistance around 1.18 and support near 1.175 feels pretty tight. I'm not sure if it's going to break out soon or just keep grinding.
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Actually, thinking about that pattern more, it's looking more like a symmetrical triangle than a flag. The highs are getting lower and the lows are getting higher, squeezing the price action. This usually means a big move is coming, but it's impossible to tell which way without more volume or news. That Iran situation is still lingering, and if it flares up again, that could shake things up for this pair.
S
@brandonwhite99 I see what you mean with the triangle, that's a good catch! I was thinking more about that 1.18 resistance being tested. If we break through that with some good volume, I'm definitely looking for a nice long scalp.