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EURUSD, GBPUSD triangle patterns offer breakout zones

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD is building a small triangle (orange and green trend lines). A bullish break could indicate that the larger wave 4 (blue) is still not completed. A bearish break of the triangle could indicate that a larger retracement or even reversal (and completion of wave 4) is taking place. 1 hour The EUR/USD bullish break of the triangle could still resistance at the Fibonacci levels of potential wave 4 (blue). One additional lower low would make a 12345 development more likely

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