EUR/USD 4H Chart: Ascending Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The most traded currency pair has formed an ascending triangle pattern on the 4H chart on July 9. At the moment of writing, the pair traded at 1.3185, level which is very close to pattern's resistance line. Even though the market sentiment is not clearly market, the pair is most likely to head to the north, as aggregate technical indicators are sending either "buy" or "neutral" signals. In addition to that ascending triangles are performing the upside breakout in most of the time. In case of penetration of resistance line, higher prices can be anticipated.
© Dukascopy Bank SA
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