The last time we were looking at this currecy pair, we idnetified a triangle foramtion on the daily timeframe, and were expecting a brekout and a bullish move after the breakout. The breakout did happen, and it was a bullish one. We are still waiting for a bigger bullish move to form on the daily timeframe, to conclude our analysis.
On the 4H chart however, the anticipated move did already happen. We are now in a triangle breakout, and the price has made a smaller retracement after the bullish move that made the breakout. The price is now touching the upper triangle line, that now acts as a support line. We expect a bounce of that line and a bullish move.
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On the 4H chart however, the anticipated move did already happen. We are now in a triangle breakout, and the price has made a smaller retracement after the bullish move that made the breakout. The price is now touching the upper triangle line, that now acts as a support line. We expect a bounce of that line and a bullish move.
Feel free to pick up a copy of our Free Weekly Newsletter here:
mailchi.mp/bc78576d6...eweeklymarketoutlook
We wih you good luck with your trading!