EURUSD Forex
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2024-04-05 07:40:00
A Price Action Ascending Triangle pattern formation on the 5 Min time frame chart supports EURCAD Bullish bias. A break of 1.47010 will support the rise towards the target of 1.47085 the break of 1.47085 would push the price to 1.47135.
SUPPORT AND RESISTANCE LEVELS
- Pivot Point 1.47326
- Support S1: 1.47303, S2: 1.47286 , S3: 1.47263
- Resistance R1: 1.47343 , R2: 1.47366 , R3: 1.47383
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Age 159 BarsFull view
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.
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