Bullish EURUSD - 04 December 2022

EURUSD Forex

EURUSD

Bullish Closed

A Price Action Ascending Triangle pattern formation on the 4 Hour time frame chart supports EURUSD Bullish bias. A break of 1.05238 will support the rise towards the target of 1.05586 the break of 1.05586 would push the price to 1.05818.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 1.06633
Support S1: 1.06576, S2: 1.06543 , S3: 1.06486
Resistance R1: 1.06666 , R2: 1.06723 , R3: 1.06756

Summary

Instrument :

EURUSD

Direction :

Bullish

Pattern Name :

Ascending Triangle

Probability :

12%

Entry Level :

1.05238

Activation Time :

2022-12-02 06:00

Age :

374 Bars

Progress :

100%

Close Time :

2022-12-04 22:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

There are no signals right now

Ascending Triangle

An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trend line to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns.