Currencies  |  November 02, 2012 07:23:57

Currency pair EUR / USD trend stuck in the side

What is the next evolution of the currency pair EUR / USD? The four-hour chart shows several technical groups. The most significant side channel is bounded from above and below the value 1.3150 1.2820. In it, a couple of EUR / USD oscillates since the 11th September this year, and since both thresholds are also strong S / R levels, is not very likely that from him anytime soon exited. Rather, it seems that the exchange rate will move in its defining levels.

Inside the mentioned channel is formed by a triangle formation, which already has one false break upwards.
During the night better off trading the dollar in morning trading at the price of a couple of 1.2900, which is also the bottom edge of the triangle.
The graph below to see some strong S / R levels. It's been mentioned boundary side channel 1.3150 and 1.2820. Next is the S / R level 1.2885, which more or less coincides with the bottom edge of the triangle and its upper edge corresponds to S / R level 1.2931.
It can be seen that to remain in such a narrow range for the EUR / USD hard enough and you can expect a triangular formation breaking in a matter of hours.

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