EUR/USD - Await breakout.
Difficult to gauge sentiment with the political and economic instability in the US and the EU, albeit less so in the latter.
The pair hit a year high last week of approx 1.075-1.077. There was 4 touches of this high which quickly retraced. Currently, the pair is in a consolidation phase and waiting for breakout. If the the loosely drawn, ascending triangle holds expect the next resistance to be towards 1.072. On the converse if 1.066 breaks look towards 1.062.
Enjoy trading.
The pair hit a year high last week of approx 1.075-1.077. There was 4 touches of this high which quickly retraced. Currently, the pair is in a consolidation phase and waiting for breakout. If the the loosely drawn, ascending triangle holds expect the next resistance to be towards 1.072. On the converse if 1.066 breaks look towards 1.062.
Enjoy trading.
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