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02.07.202008:33 Forex Analysis & Reviews: EURUSD remains trapped inside triangle pattern

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EURUSD continues to trade inside the triangle pattern we have showed from previous analysis. Price is bouncing off the boundaries of the triangle with no clear direction. I continue to believe that the most probable break out will be to the downside.

For my bearish view to be confirmed we need a clear 4 hour candlestick close below 1.12. So far price has found support at 1.12 despite four attempts until now to break this support level. Each time price bounced. Price has key short-term resistance at 1.1290. As long as price is below that level I favor a move towards 1.1150-1.1080.

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