Ascending Triangle on EUR/USD

Ascending Triangle on EUR/USD

The bullish sentiment is prevailing on the EUR/USD currency pair. Demand for the US dollar weakened amid weak economic releases. The technical pattern signals a further growth of the euro. On the hourly chart, the Ascending Triangle classic figure has been formed, which quite often acts as a continuation of the current trend. At the moment, the EUR/USD quotes are consolidating near the local resistance of 1.13600. We recommend paying attention to this situation.

If the price fixes above 1.13600, you need to look for entry points to the market to open long positions. The immediate goal for profit taking is a round level of 1.14000. The movement is tending to 1.14300-1.14500. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.03.18

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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