1 hour analysis. Break outs still on hold

12 May 2020

Pay attention to the purple line. Its shows an inner (almost) "pennant" or closer to "descending" triangle. Either way this is still a trading and/or scalping range. Keep in mind that the EUR has been in a bearish trend for 2 years. We really need to wait for a big break out. Although, I have charted some easy spots to look for reversals, ill be taking shorts until this trend decides where it wants to go. I'm not much of a fundamentalist but I do pay attention. Still believe it will break out bullish.

Final analysis... breakout will happen in the next three weeks. Watching for reversals and taking shorts until then.

EURUSD