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EUR/USD trading in triangle pattern
EUR/USD is trading within yet another symmetrical triangle formation, in a wider move which looks most likely to be a short-term bounce prior to another leg lower. The failure to create a new high yesterday was a warning sign that this weakening is starting.
However, the higher low confirmed a triangle pattern which means we await an hourly close above $1.1159 for a bullish short-term outlook or an hourly close below $1.1119 for a return to the medium-term bearish outlook.