. #EUR #USD Breakout from a consolidation rectangle Video Analysis
http://ntvforex.com/news/?id=8df5d8. . 8 19 2020 11 08 54 AM . . . #EUR #USD . Breakout for #EUR USD. For the past few weeks a consolidation rectangle has been forming. The pattern threatened to form a top just over a week ago, but support at 1.1695 held firm. The threat could not be sustained and in the course of the past week, there has been a shift in sentiment. The euro has now put together five positive candles in a row, culminating in a closing break above 1.1915. This completes what looks to be a classic breakout from a consolidation rectangle. The move implies 220 pips of additional upside now towards 1.2135. The longer term chart suggests that once 1.2000 psychological resistance is cleared, there is little to really hold back a rally until 1.2170 1.2200 from early 2018 levels. Momentum is strong, with daily RSI swinging higher into the 70s, Stochastics pulling into the 80s and MACD lines ready to pull higher too…

 

You have Successfully Subscribed!

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

Pin It on Pinterest

Share This