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EURUSD Analysis

Profile photo of Nuno Lampreia – Forex.Today by Nuno Lampreia – Forex.Today
2015-07-03_13-12-31eurusd

2015-07-03_13-12-31eurusd

It was possible to draw a symmetrical triangle on the EURUSD 1 hour chart.

Price touched three times the upper and three times the lower boundary of the triangle.

The more conservative approach to trade might be to wait for an outbreak of the symmetrical triangle wait for a retracement back to the channel and then long or short it from there like it is indicated by the arrows.

The more agressive approach is to buy it or sell it at the third touch of the triangle while price finds itself still inside the triangle hoping that it will breakout with the same move passing the lower or upper boundary of the triangle.

If it does not pass the boundary then profits should be taken and one should trade in the opposite direction.

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