As seen on the H4 chart, EURUSD is forming a triangle pattern. The formation appears to be a bearish continuation pattern. – Statistically 82% –
Bearish Breakout 80% :
The baseline of the triangle resides at 1.14200. Breakout of the triangle’s baseline would trigger the bearish move. The targets of the formation : 1.13700 , 1.13100 and 1.11090. Stop Loss must be above 1.14800.
Bullish Breakout 20%:
The bullish breakout – a certain level cannot be mentioned at time being but the estimated level is 1.14800 – would carry the price 1.15300. Stop Loss must be below 1.14200.
Originally published on: http://chartreaderpro.com
