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EUR/USD remains trapped inside the triangle pattern but it is running out of space. Although the most probable outcome would be to break to the downside towards 1.12-1.11, we should not ignore the upside potential towards 1.15-1.1560.

Exchange Rates 06.12.2018 analysis

Red line- resistance

Green line -support

EUR/USD is trading below the Ichimoku cloud and inside a triangle pattern. Resistance is at 1.1370 and support at 1.13. Once any of these two levels is broken, we focus on the confirmation of the signal. This will come with a daily close above 1.1420 or below 1.1270. Target for the break out would be at 1.15-1.1560 for the bullish scenario and 1.12-1.1150 for the bearish scenario.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Alexandros Yfantis,
Analytical expert
InstaForex Companies Group © 2007-2019
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