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Symmetrical Triangles on EUR/USD Weekly Chart

July 3, 2011 by

A slightly sloped symmetrical triangles pattern has formed on the EUR/USD weekly chart recently. The chart pattern has still some space before apex and thus the breakout will probably take some time. Symmetrical triangles usually serve as a continuation pattern, so a bullish breakout is quite probable. In this case a target near 1.5800 looks viable. Bearish breakout wouldn’t be a good trading signal here, unless some new pattern forms.

EUR/USD Symmetrical Triangles on Weekly Chart

If you have any questions or comments regarding this EUR/USD chart pattern, please feel free to reply via the form below.

3 Responses to “Symmetrical Triangles on EUR/USD Weekly Chart”

  1. investment forum

    yes, I also think that a Bullish breakout is almost certain especially now when the 12 bln euros aid for Greece is approved

    Reply

    admin Reply:

    But we’ll have to wait for July 5 before we’ll be able to see some real movements in the market.

    Reply

  2. KRISTOFA

    Thank you for the comprehensive analysis of the pair

    Reply

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