Triangle Completing | 11 اكتوبر 2013
11 اكتوبر 2013, EUR/USD
The longer-term trend is up and remains so as long as 1.3465 holds.
The pair has formed a triangle which currently appears to be breaking out to the upside. The most recent bullish column higher is threatening to break above the trend-line. If we get a clear break above the trend-line - signalled by a clear move out of the triangle and above 1.3545, or, for more certainty, by a double top buy pattern, it will indicate a new breakout rally, with a target of 1.3655.
Alternatively a breakout below the triangle, signalled by a move below 1.3505 would target the former count lows at 1.3450 again. A move under the 1.3490 lows would be a strong indicator the larger trend was now bearish, however, a move below the consolidation pattern lows of 1.3465 would give even stronger trend reversal signal.
.jpg "Triangle Completing")
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
