Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

EUR/USD: Expanding Triangle, Possible Final Flag

By Al BrooksForexSep 22, 2022 10:55AM ET
www.investing.com/analysis/eurusd-expanding-triangle-possible-final-flag-200630194
EUR/USD: Expanding Triangle, Possible Final Flag
By Al Brooks   |  Sep 22, 2022 10:55AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
USD/EUR
+0.08%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
EUR/USD
-0.06%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

EUR/USD Daily Chart
EUR/USD Daily Chart

  • The EUR/USD is forming an expanding triangle (blue lines) and is currently setting up a lower low major trend reversal.
  • Bulls see the trading range from August 23 to September 20 as a final flag and expect a reversal up to 1.000, which is the midpoint of the trading range.
  • Bulls want a strong reversal bar and consecutive strong bull trend bars, which would increase the odds of an upside breakout and test of the September 12 close.
  • Bears want to trap the bulls here and get a measuring gap with the breakout below the September 6 close, however, they will probably fail, and the market will reverse back up to the 1.000 big round number.
  • Traders will pay attention today to see if the bulls can get a solid reversal bar trapping the bears and making bears decide if they should exit above. Bears want to get another strong bear trend bar today or at least prevent the bulls from getting a bull close.
EUR/USD: Expanding Triangle, Possible Final Flag
 

Related Articles

EUR/USD: Expanding Triangle, Possible Final Flag

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (4)
Rick Pol
Rick Pol Sep 23, 2022 10:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This is where technical analysis gives way to the fundamentals. Being ignorant of the news is very costly. Pretty much all year Al expected the bulls to step up and time and again the bears win, why? why do the Bulls keep capitulating? The answer is clear if you look at the fundamentals. What is the EU doing?
Rick Pol
Rick Pol Sep 23, 2022 10:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The EU is raising rates like a bat out of ****right when they are placing sanctions on Russian energy after years of their global warming woke policies which have shut down coal and even nuclear power plants in exchange for wind and solar. Here's the problem, there is simply no alternative to Russian energy especially after Biden has been begging for our enemies to sell us oil like Iran and Venezuela while placing the most anti-oil policies and regulations on American oil 🛢 which has cut capital investment to the lowest level in decades.Nothing impacts GDP more than the cost of energy and interest rates. The EU has hiked rates up aggressively and slashed access to cheap energy and the are now buying oil from India and China who intern get it from Russia. So now they are closing to pay 50% more for their Russian oil just to make a woke political statement.
Rick Pol
Rick Pol Sep 23, 2022 10:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What this means is that Germany, Italy and Britain are beginning to see PMI crash as companies scale back production and many may end up closing their doors. Why? Because of a suicidal self inflicked policy to attack global warming and Russia at all cost even if it destroys them. This hast hurt Russia to the tune of about $100B. But it is costing the EU and the collective West trillions.
Rick Pol
Rick Pol Sep 23, 2022 10:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
So why is the USD so strong? Simple, Fed Reseve is also hiking rates but unlike Europe, the US 🇺🇸 has an abundance of cheap carbon fuels and when oil shot up Americans cut back demand causing our energy costs to normalize. So US companies will out perform European companies because manufacturing in the US will easily out perform EU companies. Added to the problem is China’s zero covid policy has cut demand there by the biggest decline in decades. And Japan has refused to raise rates like other central banks and all of this together causes an unprecedented surge in the USD.
ironman Avenger
ironman Avenger Sep 23, 2022 9:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
he is always on bullish side
kjeld johnsen
kjeld johnsen Sep 23, 2022 9:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
There are plenty others on Bears side
Mr Doodl
Mr Doodl Sep 23, 2022 9:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I got the same impression.
Sarven Buyuker
Sarven Buyuker Sep 23, 2022 4:17AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
so far its only been "sideways to the" down... lets see
Jitesh Shivnani
Jitesh Shivnani Sep 22, 2022 10:02PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
seems like your analysis ain't working dude
German Villanueva
German Villanueva Sep 22, 2022 10:02PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Analysis is messed up dude. It will rebound above beyond 1.3800 then will make another correction down Trend
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email