Forex Signal For EUR/USD: Stuck in a Narrow Range as Triangle Pattern Forms
Forex Signal For EUR/USD: Stuck in a Narrow Range as Triangle Pattern Forms
The pair also reacted to the latest housing data from the US. The housing sector showed a strong decline, reaching 1,43 million in September, down 8,1%.
Bear Market Outlook
- Sell the EUR/USD pair and take a profit at 0,9630.
- Add a stop-loss at 0,9850.
- Timetable: 1-2 days.
Forex Signal For EUR/USD: Stuck in a Narrow Range as Triangle Pattern Forms
Bull Market Outlook
- Set a buy stop at 0,9810 and a take profit at 0,9950.
- Add a stop-loss at 0,9700.
With the US dollar making a strong comeback on Wednesday, the EUR/USD price dropped to 0,9760, just below this week's high of 0,9867.
The drop came after Europe released strong inflation data and the US gave mixed housing figures.
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