Sell EURUSD Triangle Breakout

The EUR/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a triangle pattern.

Sell Entry: Consider entering a short position around the current price of 1.0842, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.

Target Levels: Initial bearish targets lie at the following levels: 1.0815 and 1.0795.
These targets act as potential support zones that could see selling pressure.

Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the triangle, ideally around 1.0870. This helps limit potential losses if the price reverses and breaks back upwards.

Thank you.

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Hawkish Fed expectations: The market anticipates the Federal Reserve might continue raising interest rates in the coming months, further supporting the USD.

Weak Eurozone Data: Recent data releases from the Eurozone have been underwhelming, pointing towards potential economic slowdown. This could weaken the Euro (EUR).

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The dollar jumped against the euro and yen on Wednesday as investors positioned for U.S. and European inflation data due on Thursday, with month-end portfolio rebalancing also likely to sway market direction.