5 Min Chart
Risk-off sentiment was prevalent on Monday Morning, bringing EUR/USD lower. Price suddenly surged higher during Europe Pre-Market hours, but fell back quickly below 1.2975 resistance, forming an Evening Star candlestick pattern in the process.
From the Hourly Chart, bullish momentum does not appear to be slowing down with price bouncing off L3 and the rising trendline with ease. However, 1.299 – 1.30 continues to act as overhead resistance, potentially forming an upward triangle should price continue to respect the upward trendline.
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