EUR/NZD 1H Chart: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A 164-bar long descending triangle pattern shaped by EUR/NZD was broken through six hours ago. The penetration of the upper limit of the pattern may be a signal that a bullish breakout has occurred, especially given proximity of the apex. The SWFX numbers also solidify this view, indicating that 63.16% of all orders are placed to buy the pair. If these expectations are true, the EUR/NZD now is on the verge of continuous appreciation that may take the instrument well above the pattern's resistance, close to which it was trading at the moment of writing.
© Dukascopy Bank SA
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