EURUSD: Where are We Going? Price Action Analysis

Jan 30, 2021

EURUSD is currently stuck within an expanding triangle formation on 4H.

Its lower boundary is based on a major horizontal daily/4h support.
Its upper boundary is based on a strong 4H rising trend line.

The breakout of its boundaries will clarify the future long term direction of the market.

If we see a bear breakout of horizontal support,
it will most likely lead to a start of a long term bearish trend on a pair.

If we see a bullish breakout of its trend line, bullish continuation will most likely follow.

For intraday trading, both boundaries can be considered.

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Feb 1, 2021

Note

Check my new idea on EURGBP: