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 JustMarkets, 2017.08.28

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.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
Natural Gas Pricing Factors
The balance between supply and demand primarily influences natural gas prices. When demand for natural gas increases and supply cannot keep up, prices tend to rise.
Read more