Focus: The pair need to break the 1.3367-1.3401 resistance zone to confirm the uptrend . The immediate term support zone could be near the 1.3244 level.
Strategy in Play
The EUR/USD is trading in a symmetrical triangle pattern on a 30 minute time frame as predicted. Historically speaking, symmetrical triangles do usually break 60% in the direction of the trend. The upward/downward projections of this triangle are shown by the yellow rectangles on the chart. The volatility for the pair is low, as the price is trading within the Bollinger band. The EUR/USD is trading near the 50 day (shown in green) and the 100 day (shown in yellow) moving average which confirms that there is a tug war going on between the bulls and the bears and no one has the control.Read More