Will Triangle Send The EURO to 1.45/1.5 levels !

EURO-Dollar-min

As shown on the daily chart below the pair breached above the triangle last week, this scenario is likely to add pressure on the 1.3415 levels, a break will expose 1.3710 levels, If seen, the way will be paved to 1.4200/1.4500 levels.

Note that according to a triangle on the daily/weekly chart, the assumed target is 1000 pips from the breakout point, so it’s around 1.4300 levels…

On the weekly chart, we have the same triangle, but we also have a second bullish pattern according to weekly MACD, the neckline is at 1.3485, so a break above the triangle followed by a break above 1.3485 levels on weekly is likely to advance the pair further higher towards the 1.5000 levels.

However, support on daily is at 13265, on weekly is at 1.3230, so as long as both levels hold, 1.3415 will be breached, sooner or later, just a matter of time! Losing both levels would delay /invalid the bullish view ?!!!

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