EUR/USD: Trade ideas for August 15
EURUSD has formed a triangle pattern in favor of the bearish trend, because this pair is kept below the EMA 500. The nearest support is the level of 1.3346, so a breakout in that bullish trend line may lead to the EURUSD to fall to that level.
However, if the EURUSD finds support in the bullish trend line, it is expected to rise again to the resistance level of 1.3404, where is located one bearish trend line. If this pair makes a breakout in the trend line, it is expected to rise to the level of 1.3427, where is located the 500 EMA. The CCI indicator is in the -100 level and without showing divergences.
Trading recommendations: Place sell orders if the EURUSD does a breakout at the support level of 1.3346, with take profit at 1.3270.