EUR/USD -1/12/2022-
• Euro is trading in a bullish trend
• Further signs of trend reversal are showing up everyday
• First, the pair is trading above the 200 SMA for the second consecutive day
• Bulls managed to break and trade above the descending trend line since March 2022
• Price confined inside an ascending triangle, a bullish formation
• A break above the triangle targets 1.08 (March low) as per the projection method
• Further signs of trend reversal are showing up everyday
• First, the pair is trading above the 200 SMA for the second consecutive day
• Bulls managed to break and trade above the descending trend line since March 2022
• Price confined inside an ascending triangle, a bullish formation
• A break above the triangle targets 1.08 (March low) as per the projection method
Ramzi Abou Abdallah, CFTe, CMT
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