Bullish META - 04 October 2024 - Technical Analysis

EURUSD Forex

SUPPORT AND RESISTANCE LEVELS

Pivot Point 604.34
Support S1: 603.04, S2: 601.82 , S3: 600.52
Resistance R1: 605.56 , R2: 606.86 , R3: 608.08

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Summary

Instrument :

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Ascending Triangle

An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trend line to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns.