BluetonaFX - EURUSD Pullback to Previous Triangle Break
Hi Traders!
EURUSD is on a pullback after breaking and closing above the ascending triangle resistance, and there are opportunities for short entries to target the previous resistance break.
Price Action 📊
After the intital break and close above the triangle resistance, the market rallied to create a new monthly high at the 1.09652 level. Now the market is on a pullback to possibly re-test the triangle break.
Fundamental Analysis 📰
The ECB said on Tuesday that the eurozone's struggling commercial property sector could continue for years, which poses a big threat to the banks and investors that financed it. Additionally, the ECB recently confirmed that interest rates will remain unchanged for the next few quarters, which will reduce demand for the euro.
Support 📉
1.07564: PREVIOUS TRENDLINE RESISTANCE
Resistance 📈
1.09652: WEEKLY HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
EURUSD is on a pullback after breaking and closing above the ascending triangle resistance, and there are opportunities for short entries to target the previous resistance break.
Price Action 📊
After the intital break and close above the triangle resistance, the market rallied to create a new monthly high at the 1.09652 level. Now the market is on a pullback to possibly re-test the triangle break.
Fundamental Analysis 📰
The ECB said on Tuesday that the eurozone's struggling commercial property sector could continue for years, which poses a big threat to the banks and investors that financed it. Additionally, the ECB recently confirmed that interest rates will remain unchanged for the next few quarters, which will reduce demand for the euro.
Support 📉
1.07564: PREVIOUS TRENDLINE RESISTANCE
Resistance 📈
1.09652: WEEKLY HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX