ORBEX: EURUSD Triangle Wave Hints to Short-Term Upside

EURUSD triangle structure seems to suggest that we have a little more upside correction left before turning lower.

The test could take place near 1.13, the 78.6% Fibonacci and also a price/trendline intersection. Both MACD and the RSI support short-term bulls!

If successful, the chances of reaching a fresh multiyear low would increase.

Trade safe

Stavros Tousios
Head of Investment Research
Orbex

This analysis is provided as general market commentary and does not constitute investment advice