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EUR/USD consolidating within triangle formation
EUR/USD is creating lower highs and higher lows at the moment, with the pair failing to truly push out of the 76.4% retracement seen last week. This triangle formation means that we need to keep an eye out for the key near-term swing high and swing low for the directional guidance.
As such, watch out for an hourly close above $1.1980 for a bullish view, or an hourly close below $1.1824 for a bearish view.