EUR/NZD: 1-hour
Check out the consolidation getting tighter and tighter on EUR/NZD’s 1-hour forex chart. The pair is forming a symmetrical triangle pattern, as it made higher lows and lower highs. It seems to have found support at the bottom of the formation once more and is heading for the top around the 1.5950 minor psychological level. If that area holds as resistance, EUR/NZD could make its way back down to the bottom of the triangle. If you think a breakout is bound to take place soon, make sure you set your orders outside the triangle formation. Better review our lesson on How to Trade Triangle Chart Patterns while waiting for a strong move.
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