Trading Signal for EUR/USD for December 16 - 17, 2020: Ascending Triangle

The EUR/USD pair since its high on December 3, when it hit the resistance of 1.2175, since that date until now it has been consolidating below this zone, and bouncing with a range of 95 pips, as you can see in the graphic.

This price range that the euro is leaving is a sign of an accumulation phase, awaiting the decision of the FOMC, that after the market has assimilated the news we could see a break at any of the points indicated. The market appears to be preparing for a breakout to the upside.


The material has been provided by InstaForex Company -