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EUR/USD trades in a tighter range - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet sees the EUR/USD trading within a symmetrical triangle approaching to its vertex after the pair traded in a range the whole week.

Key Quotes

"The pair trades within a symmetrical triangle approaching to its vertex, making of a break either side of the figure a pretty uneventful when it comes to giving a trading signal."

"The EUR/USD pair however failed to react to the news, stuck around 1.2450/60. The 4 hours chart shows still a neutral stance, with 20 SMA and indicators unable to set a direction."

"As commented on previous updates, a clear breakout above 1.2520 or below 1.2400 is required to see the pair gaining some directional strength, and move 30/50 pips."

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