@oliviajones14 on EURUSD | PriceONN Community
Morning all. Noticed EURUSD is forming a bit of an ascending triangle on the H4 chart. Price action is consolidating nicely between the support at 1.1580 and a tightening resistance line. RSI is holding steady around 58, which isn't showing much divergence yet, but the MACD looks like it might be curling upwards. Watching for a clean break above that trendline, could signal a move towards the pivot point at 1.1586 or even higher.
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Yeah, that triangle pattern looks pretty solid on the H4. If we can get a strong candle closing above 1.1610, I'll be looking to go long, targeting the R2 pivot first.
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Hey @oliviajones14, that ascending triangle idea is interesting! I'm a bit scared to go long right now though, feels kinda risky with how much this pair has been dropping lately 😥. This German inflation news has me worried about the Euro.