do you think there is a triangle in h4 now? on eurusd!

[AntaresScorpius]

I gave the

e chart to microsoft copilot and it found a descending triangle in h4 now on the eurusd chart.

 

[AntaresScorpius]

this is what microsoft copilot says
US inflation data due today at 2:30 PM (ET) is:

Year-on-year (YoY) inflation:

Previous: 2.9%

Forecast: 3.0% → rising

Monthly (MoM) inflation:

Previous: 0.3%

Forecast: 0.2% → falling

🔍
The rise in annual inflation suggests that price pressure is rising, which could push the Federal Reserve to keep rates high for longer.

The monthly decline is marginal, but not enough to change the overall picture.

👉 Likely outcome: If the data comes out as expected, the dollar could strengthen, pushing EUR/USD lower.

📉 Impact on the EUR/USD exchange rate
Weak ZEW data for the Euro + rising US inflation → double bearish pressure on the EUR/USD

The market could anticipate a more aggressive Fed than the ECB, strengthening the dollar

 

[emilyzheng]

On H4, I see a contracting triangle (A–E) into CPI—plan is to fade the first fake-break and target prior POC; invalidation is a clean close above the D-leg high.

 

[AntaresScorpius]

Sorry, but I'm still a Forex newbie. The triangle analysis was correct, but I didn't pay attention to the fact that there was a morning star one day as big as a house, and that's why it went long again. Then, in the 15-minute period at 1.1577 today, August 13th, it formed another morning star right on the support/resistance level and went long again. I'm a newbie, so I didn't look carefully; the trend was long, long, long.