EURUSD Triangle

After the big momentum drop we’ve seen in the last few days on EURUSD the pair has managed to find some support at 1.2730 and it formed a triangle pattern, already testing the suppport a couple of times. This pattern is usually a continuation one, so any break to the downside, especially with the current bearish bias should be played accordingly. A more significant bounce from the area will open up the 1.2950-1.3000 zone as a natural target for a retracement movement.

After the big momentum drop we’ve seen in the last few days on EURUSD the pair has managed to find some support at 1.2730 and it formed a triangle pattern, already testing the suppport a couple of times. This pattern is usually a continuation one, so any break to the downside, especially with the current bearish bias should be played accordingly. A more significant bounce from the area will open up the 1.2950-1.3000 zone as a natural target for a retracement movement.

 

[NP][/NP]