Possible triangle forming | 18 December 2013
18 December 2013, EUR/USD
EUR/USD appears to be consolidating in a sideways move. Right now it is rising back up towards the consolidation highs at 1.3800 – it will probably reach there if price breaks above 1.3775. There is possibility we are witnessing the unfolding of a small triangle which is probably close to completion. The Feds FOMC meeting is today at 19.00 GMT and is very well likely to produce a lot of volatility, which could see the pair break out. Because the prior tredn has been up it is more likely the break will be bullish. A break above 1.3815 would signbal such a move with a reach to probably 1.3900-15.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
