Where should EURUSD go?
Hello, guys!
This is ESS team.
Let's see the EURUSD 5D chart.
After a long decline that began in mid-2011,
It has risen again since the end of 2022, drawing a triangle pattern to determine where to go.
Since triangle pattern is not yet complete, It is necessary to take a longer view.
If It breaks out pattern upward and is supported by triangle pattern, It will have the driving force to rise again,
and If it breaks below triangle pattern and is resisted, It can fall down to the first monthly downtrend line (the line where is tapped the most support and resistance).
This is ESS team.
Let's see the EURUSD 5D chart.
After a long decline that began in mid-2011,
It has risen again since the end of 2022, drawing a triangle pattern to determine where to go.
Since triangle pattern is not yet complete, It is necessary to take a longer view.
If It breaks out pattern upward and is supported by triangle pattern, It will have the driving force to rise again,
and If it breaks below triangle pattern and is resisted, It can fall down to the first monthly downtrend line (the line where is tapped the most support and resistance).
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.