@PriyaV20 on EURUSD | PriceONN Community

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P
Okay, so EURUSD is forming a potential ascending triangle on the H4 chart. Upper trendline around 1.1605, lower trendline rising from 1.1550. Need to see a clear breakout above that resistance with confirming volume to validate the pattern. If it breaks, targeting 1.1650 initially, then maybe 1.1700. Otherwise, a fakeout could send it back down to 1.1520.
EURUSD

Replies (2)

P
PriyaV20 PRO newbie Mar 9
Oh and one more thing... if it fails to breakout, shorting at 1.1605 with a target of 1.1550 could be a decent scalp. Just a thought... night!
P
PriyaV20 PRO newbie Mar 9
And just thinking about the fundamentals... given the ECB's hawkish stance recently (compared to the fed), that could be the catalyst for a breakout. But DXY strength could easily negate that, so it's a bit of a tug-of-war. Also, RSI is currently at 53, so not overbought yet, which leaves room for further upside *if* we get the breakout. Gonna set an alert at 1.1605 and see how it reacts. Maybe a small long position with tight SL at 1.1590, just in case it's a bull trap lol. I'm gonna get some sleep now, wish me luck!
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