EURUSD, “Euro vs US Dollar”
EURUSD is correcting within a Triangle pattern. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 1.0845 is expected, followed by a rise to 1.0985. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.0730, indicating a further decline to 1.0640. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the Triangle pattern, with the price finding a foothold above 1.0905.
Origin: RoboForex
