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Euro/US Dollar Symmetrical Triangle Pattern

The EUR/USD currency pair is poised for a breakout of this large symmetrical triangle pattern. An upside breakout would likely bring the EURO to at least the 115 level while a downside break (below 1.08) would most likely send the Euro back towards its all-time lows below the 105 level. Whichever way this pattern breaks is likely to have an impact on commodities & other dollar sensitive assets. Based on the current proximity to the apex of this pattern, a breakout in either direction is most likely to occur within the next two weeks.

EUR-USD daily Aug 5th

EUR-USD daily Aug 5th

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Aug 5, 2015 1:21pm|Categories: Forex (Currencies)|Tags: , , |Comments Off on Euro/US Dollar Symmetrical Triangle Pattern