EURUSD Shows Potential for Growth After Breaking Descending Triangle

The EURUSD pair has successfully broken out upwards from a Descending Triangle pattern on the hourly chart, indicating a potential upward movement equivalent to the width of the pattern.

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On the 15-minute chart, the Stochastic indicator has entered the overbought territory, suggesting a possible correction for the EURUSD. However, should such a correction occur, it would create an attractive buy opportunity with a favorable risk-reward ratio. As long as the price stays above the nearest support level at 1.08000, the prospects for an upward trend remain strong.

Technical Reference: buy
Potential Take Profit 1: 1.08500
Potential Take Profit 2: 1.08700
Potential Stop Loss 1: 1.08000
Potential Stop Loss 2: 1.0780