EURUSD Symmetrical Triangle: Trend Reversal
- Technical analysis of the 1hour symmetrical triangle chart pattern for EURUSD indicates both the downtrend and uptrend are losing momentum, suggesting a high probability of a new trend emerging.
- An uptrendline from 1.07659 rejected the exchange rate at 1.08427 after retracing from 1.08951, and then continued upward to the current exchange rate of 1.08574.
- A downtrendline from 1.08951 rejected the exchange rate at 1.08855 and continued downward to the current exchange rate of 1.08574.
- If the downtrendline breaks to the upside, there is a high likelihood of the exchange rate increasing further. Conversely, if the uptrendline breaks to the downside, the exchange rate is likely to decrease further.
Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure.
BDSwiss is a trading name of BDS Markets and BDS Ltd.
BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene.
BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350)
- An uptrendline from 1.07659 rejected the exchange rate at 1.08427 after retracing from 1.08951, and then continued upward to the current exchange rate of 1.08574.
- A downtrendline from 1.08951 rejected the exchange rate at 1.08855 and continued downward to the current exchange rate of 1.08574.
- If the downtrendline breaks to the upside, there is a high likelihood of the exchange rate increasing further. Conversely, if the uptrendline breaks to the downside, the exchange rate is likely to decrease further.
Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure.
BDSwiss is a trading name of BDS Markets and BDS Ltd.
BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene.
BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350)