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EURUSD - Flag with False Breakout

Sunday, 2019-01-06









EURUSD - Current Channels

Tuesday, 2018-12-18









EURUSD preparing for Breakout above 1.141

Sunday, 2018-10-28

The 1-minute-chart of the EURUSD displays a Large V-Pattern (larger light blue V-like shape on the chart) just below the current Support (red horizontal line). Additionally it shows a small V (smaller light blue V-like shape on the chart) just below current Resistance (dark green horizontal line). The Large V-Pattern led to a Breakout through the Main BreakoutLine (long luminous green line from October 22). The small V-Pattern is the preparation for an attempt to break out through the Intermediate BreakoutLine (shorter luminous green line from October 25). A higher resolution of the current Flag-Formation which arose from the upward move of the Large V-Pattern on Friday and further details are discussed together with a second chart further down.


Ascending Triangle within Flag about to break out

A zoom inside the 1-minute-chart of the EURUSD shows the Flagpole (purple line) of the Flag which developed Friday. The Flag currently displays a Retracement (light blue horizontal line) of 30,5 %. We also see an Ascending Triangle (dark blue) which has formed between the Flag's Top and its Retracement right on the current Resistance Line (dark green horizontal line).