EURUSD Triangle Breakout Setup

kelmarin

The price is forming an ascending triangle pattern, with a strong resistance level at the top and a rising trendline acting as support. A potential breakdown from this structure could lead to a bearish move.

Key Levels:
📌 Resistance: 1.0580
📌 Support: 1.0440

Expected Scenario:
🔻 A rejection from resistance followed by a break of the trendline could trigger a drop towards 1.0400 and lower.
🔻 Watch for confirmation before entering short positions.

Trading Plan:
✅ Wait for a clear breakout below the trendline.
✅ Look for bearish retest before shorting.
✅ Stop-loss: Above recent highs.
✅ Target: 1.0400 & below.

📉 Bearish Bias unless price breaks above resistance.

kelmarin

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