"EURUSD has been trending lower on the short-term time frames, with a potential retracement opportunity presenting itself on the 4-hour chart. Price previously broke below support around 1.0850-1.0900 before dipping close to the 1.0700 handle then pulling back.Using the Fibonacci retracement tool on the latest swing high and low shows that the 50-61.8% levels line up with the broken support zone. This might hold as resistance since it is also close ...
AUDUSD finally made a forex breakout from the triangle consolidation pattern it has been moving in for almost a month, indicating that further gains could be in the cards. As you can see, price made higher lows and lower highs, creating a symmetrical triangle on its 1-hour time frame. The pair recently climbed past the .8800 major psychological resistance at the top of the triangle, which ...
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