Technical analysis for EUR/USD for December 14, 2018

The euro continues to trade inside a tightening range having formed a triangle pattern. Trend remains neutral as price is still below resistance and above support. Traders better wait for a confirmed breakout before choosing sides.


Blue lines - triangle boundaries

Nothing new regarding our view on EUR/USD. Price is in the middle of the range.Resistance is at 1.1430 and support at 1.1315. A 4-hour close below 1.1315 will open the way for at least a move towards 1.1270 and then towards 1.11. If we see a 4-hour close above 1.1430, we should then expect prices to move towards 1.15 and above.

The material has been provided by InstaForex Company -