EUR/USD analysis for December 06, 2018

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Recently, the EUR/USD pair has been trading sideways at the price of 1.1337. According to the M30 time – frame, I found out that price is trapped in the trading range, whic is a sign of indecision. Anyway, on the point and figure chart I found a triangle pattern in progress. Watch for a breakout of the triangle to confirm further direction. Breakout of the level 1.1345 will confirm the upward price and potential testing of 1.1410. Breaking the low at 1.1320 will confirm a further downward movement and potential testing of 1.1265.

The material has been provided by InstaForex Company – www.instaforex.com