FX.co ★ vadlamudi | EUR/USD

EURUSD - Developing triangle breakout setup

The pair is trapped within a descending triangle on the hourly timeframe, oscillating between a descending resistance line and a horizontal support pivot. Recent price action confirms a bullish bias as it holds above the key floor, reflecting steady absorption of sellers. Increasing compression near the 1.1160 invalidation level signals a move is imminent. A clean hold here supports a breakout attempt toward the upper resistance trendline, confirming the projected path for a recovery move toward recent highs. USD Congressional Elections today may drive significant volatility across major pairs. > Key Levels > Resistance: 1.1230 > Support: 1.1160