• Triangle pattern on hourly chart, so consolidation mode and sideways market
• Triangle is usually a continuation pattern
• Previous move was bullish, so breakout should be to the upside
• First support 1.0910 followed by 1.08320 and 1.07140
• First resistance 1.09980 followed by yearly highs at 1.10750
• Triangle breakout target as per the measurement method is a 100 pip move
• Triangle is usually a continuation pattern
• Previous move was bullish, so breakout should be to the upside
• First support 1.0910 followed by 1.08320 and 1.07140
• First resistance 1.09980 followed by yearly highs at 1.10750
• Triangle breakout target as per the measurement method is a 100 pip move
Commento:
Breakout to the upside at 1.0980, targeting yearly highs at 1.10750 and 1.11 psychological level
Ramzi Abou Abdallah, CFTe, CMT
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