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BTCBanker1

EURUSD breaking out of bull flag

Long
Euro / U.S. Dollar (FX:EURUSD)  
BTCBanker1 Updated   
FX:EURUSD   Euro / U.S. Dollar
Trend Lines Multiple Time Frame Analysis Chart Patterns euro EURUSD Forex breakout Technical Analysis tradingview foreignexchange
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trendline mtfa chartpattern euro eurusd forex breakout technicalanalysis tradingview foreignexchange
EURUSD is breaking out of a bull flag that has been in formation since early August (daily chart on right). This bull flag is part of a larger uptrend that began exactly one year ago, in December 2016. This uptrend was solidified with the breakout from the rectangle base and flag consolidation taking place outside of the base (shown on weekly chart to the left). As a bonus, the flag consolidation took place directly above the 200 and 20 week MAs (weekly chart).

Profit target = 1.35
Stop Loss = 200 day MA, currently at 1.1544

Trade active:
FXE is a great way to play the breakout in EURUSD if you do not have a Forex Account. It is breaking out today.

snapshot
Trade active:
Upside breakout has been confirmed.

snapshot
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