Forex - Watch The U.S. Dollar

Above we have a chart of the U.S. Dollar and you'll notice there is a symmetrical triangle formation beginning to emerge and take shape. Symmetrical triangles are one of my favorite technical patterns to trade because they are usually reliable and the moves out of such a pattern can be rather swift.

I personally use this triangle pattern as a continuation pattern which means in the above example I will only be looking to trade a bullish breakout and I will ignore any break to the downside. As always we'll see what happens.