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14.12.201809:18 Forex Analysis & Reviews: Technical analysis for EUR/USD for December 14, 2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The euro continues to trade inside a tightening range having formed a triangle pattern. Trend remains neutral as price is still below resistance and above support. Traders better wait for a confirmed breakout before choosing sides.

Exchange Rates 14.12.2018 analysis

Blue lines - triangle boundaries

Nothing new regarding our view on EUR/USD. Price is in the middle of the range.Resistance is at 1.1430 and support at 1.1315. A 4-hour close below 1.1315 will open the way for at least a move towards 1.1270 and then towards 1.11. If we see a 4-hour close above 1.1430, we should then expect prices to move towards 1.15 and above.

Alexandros Yfantis
Analytical expert of InstaForex
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