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Forex pairs build sturdy contracting triangles

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD has been going sideways during the last week and has not been able to break below the 50% Fibonacci level. A break above resistance could see price build a potential breakout. If it fails, then a bigger bearish retracement could commence towards the 61.8% Fibonacci level. 1 hour The EUR/USD is showing a consolidation zone on the 1 hour chart. GBP/USD 4 hour The GBP/USD respected the trend line (green) and made a bullish bounce. Price is now in a contracting triangle

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