Thursday, October 15, 2026

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EUR/USD breaks major descending triangle support, targets 1.0550

Chart Pattern- Descending triangle pattern The pair has broken major support 1.0800 which confirms major trend reversal a decline till 1.07250/1.0670/1.0620. Short term trend is still weak as long as resistance 1.09050 h…

By Lis Howell
1 min read
EUR/USD breaks major descending triangle support, targets 1.0550
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  • Chart Pattern- Descending triangle pattern
     
  • The pair has broken major support 1.0800 which confirms major trend reversal a decline till 1.07250/1.0670/1.0620.
     
  • Short term trend is still weak as long as resistance 1.09050 holds.
     
  • Any break above 1.0905 will take the pair to next level till 1.0950/1.0980/1.1000.
     
  • The minor resistance is around 1.0840 and break above target 1.08860/1.0905.

It is good to sell on rallies around 1.0795-1.0800 with SL around 1.0885 for the TP of 1.0670/1.0620/1.0550 

 

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