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March 13, 2019

How to Use the Apex of a Contracting Triangle

Contracting triangles are the favorite way of markets to consolidate. For this reason, whenever it is likely that the market consolidates (e.g., a few days ahead of the NFP – Non-Farm Payrolls report), the chances favor a contracting triangle to form. Various types of contracting triangles ...

EUR/USD recovered recently above 1.1200, but it is facing a crucial resistance near 1.1320. USD/JPY is also approaching a major barrier, which could produce a bearish reaction. Important Takeaways for EUR/USD and USD/JPY The Euro recovered nicely after trading towards the 1.1180 support area. ...