EUR/USD Daily Chart
EUR/USD H1 ChartThis week, EUR/USD rallied to a new historic high of 1.5913 but failed to hold, and collapsed almost 180 pips within the next few hours. On the daily chart, a very nice ascending triangle has formed.
On the hourly chart, there seems to be a head and shoulders forming, there is strong resistance at the 1.5855 level. It did not manage to form a higher high, and went sideways for a couple of hours before the markets closed on Friday. A nice support line (purple) has formed. It would be interesting to see if the markets can break this intermediate support line.
On the hourly chart, there seems to be a head and shoulders forming, there is strong resistance at the 1.5855 level. It did not manage to form a higher high, and went sideways for a couple of hours before the markets closed on Friday. A nice support line (purple) has formed. It would be interesting to see if the markets can break this intermediate support line.
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