Today is Monday, October 26. Today we’ll talk about the euro-dollar pair, where an extremely interesting triangle is forming on the medium-term timeframe. Let’s see what it will lead to.
What do we know about triangles? A triangle is a continuation pattern, meaning that once the triangle is complete, the price will most likely move in the direction it was heading before the triangle.
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🇺🇸 Pre-market trading trends on the US stock market
📈 The US stock market is showing a moderately positive trend in pre-market trading: gains by leading technology companies are outweighing slight declines among some large-cap issuers, resulting in cautious risk appetite.
In the Information Technology sector, NVIDIA (NVDA) is up 1.05%, while Apple (AAPL) is down 1.39%.
In the Financials sector, JPMorgan Chase (JPM) is up 0.43%, while Berkshire Hathaway (BRK.B) is virtually unchanged, down 0.14%.
In the Consumer Discretionary sector, Tesla (TSLA) is up 2.31%, while Amazon (AMZN) is up 0.83%.
The predominantly positive performance of large-cap technology and consumer companies is driving risk-on sentiment in the US market: interest in equities is reducing investors’ need for defensive, dollar-denominated instruments. As a result, the short-term trend of the dollar remains subdued and largely neutral, with no clear momentum toward appreciation.