EURUSD: Your Trading Plan Explained

The EURUSD is currently trading in a rising parallel channel on a 4-hour chart and is testing its support.

To enter a buy position with confirmation, look for an ascending triangle pattern on the 1-hour timeframe.
A bullish breakout above the resistance and a close of a 1-hour candle above it will provide a strong bullish signal.

There is a high likelihood that the price will continue to rise and reach at least the 1.051 level.


On the other hand, a bearish breakout below the channel's support on the daily chart could lead to lower prices.