EUR/USD Coiling For a POP! | Vantage FX

EUR/USD Coiling For a POP!

June 9, 2016

Image: European Central Bank Flikr (cc)

EUR/USD Coiling For a POP!:
In today’s Daily Market Update we touched on an hourly EUR/USD chart.

EUR/USD 1 Hour:
Click on chart to see a larger view.

Following the blog, I’ve had a few questions around why I’ve used the horizontal level that I have in identifying the ascending triangle pattern that EUR/USD seems to be coiling inside.

EUR/USD 4 Hour:
Click on chart to see a larger view.

Quite simply, that touch right there.

When you zoom out to the higher time frames, that is the most obvious, hard rejection off a single price. When price reacts this way once, even if the level has been chopped through since then, the level is going to continue to get attention.

Stick to good risk management principles when tradning these major levels and you will be fine in the long run.

Dane Williams – @VantageFX

WEBINAR ALERT – TONIGHT: Finding Low Risk/High Return Trades on NZD/USD:

Forex Webinars with Vantage FX

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Vantage FX does not contain a record of our prices, low spreads or solicitation to trade. All opinions, news, research, prices or other information is provided as general news and market commentary – not as investment advice. Consequently any person acting on it does so entirely at their own risk. The experts writers express their personal opinions and will not assume any responsibility whatsoever for the actions of the reader. We always aim for maximum accuracy and timeliness, Australian Forex Broker Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.




Fast & Easy Account Opening Start Now!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!
Forex Promotions

Open a live account today to gain exclusive access to our 8 Forex Promotions. 

Find out more.