EURUSD ! Price in a triangle. What will happen next?🤔

10 באוג׳ 2022

EURUSD is trading in a downtrending price channel and it is worth paying attention to the interesting set-up that the price draws for us. According to the trend lines we determine that there is no local trend and the price is in a hard consolidation, I also drew trend lines and we can see that a triangle is forming on the chart.

The situation is equal for a break up as well as a break down. There is no clear indication which way this breakout will go.

Assuming that the breakout can be in either direction, we continue to patiently wait and watch which way the next movement will be. IMPORTANT: there are no entry points inside the triangle, because an accumulation is forming and it is quite difficult to determine what will happen next.

Sincerely R. Linda!