EUR\USD: Pennant Pattern (70 Pips)

A Pennant chart pattern is now present at the major pair of EUR\USD. This is a strong continuation pattern that leads to a continuation upwards. It may also be identified as a Ascending Triangle which is even stronger - and leads to a bullish breakout.

Pattern is 70 pips in size and should be traded in the following way: When price breaks upwards traders can take long trade. Conservative traders will enter at the pullback to the Resistance.