EURO-DOLLAR SCENARIO BREAKDOWN|STRUCTURE ANALYSIS

29 Jul 2020

EURUSD is now trading below the strong horizontal level in a bullish triangle, while also forming a potential double top.

This mix of conflicting signals gives us a plethora of scenarios.

Scenarios:
Scenario1-bearish within the triangle. For then to retest the resistance and possible breakout up.

Scenario2-Which could be a continuation of a scenario1-a bullish breakout of the triangle and the resistance.

Scenario3-which is consistent with the resistance short, is the bearish triangle breakout.

Here are the possible ways of the near future EURUSD behavior.

Thank you for reading, and have a nice day!