Triangle on EUR/USD

Triangle on EUR/USD

On Friday, August 25, aggressive purchases were observed on EUR/USD. The euro strengthened against the US dollar by more than 150 points. The currency found resistance at the level of 1.19550. At the moment, a correction is possible. In the trading instrument, a classical figure of the technical analysis, "Triangle", was formed, which quite often acts as a reversal formation.

If the price fixes below the local support of 1.19100, we recommend considering selling EUR/USD. The closest goal for fixing profits is the mark of 1.18700. Within a few days, the currency may reach a "mirror" support level of 1.18250.

by JustForex, 2017.08.28

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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.