EUR/USD: lower side of the triangle broken

EUR/USD: lower side of the triangle broken

3-8-2018-EUR-H4.png

The lower side of the triangle has been broken, so the price is declining. The main intraday target is the next support at 1.1526. If a pullback from this level happens next, there'll be a moment to have an upward correction towards the nearest resistance at 1.1574 - 1.1601.

3-8-2018-EUR-H1.png

The last 'Pennant' led to a new local low. At the same time, there's a 'V-Bottom', so we're likely going to have an upward correction. So, we should keep an eye on the nearest resistance at 1.1590 as a possible starting point for another decline.

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