JWagnerFXTrader
Short

EURUSD Bearish Triangle Consolidation

FX:EURUSD   Euro / U.S. Dollar
The EURUSD             appears to be carving a triangle formation. It could be near completion now or after another down up sequence would finish the consolidation.

This is a small trade with a positive risk to reward ratio. A move above the c wave high suggests some other pattern is developing.
I would wait for the breakout first, then trade from there. Wherever it breaks through is where the market's gonna go. I don't see any bullish or bearish bias.
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Hello M4nti, waiting for a breakout isn't a bad way to trade either. The currency markets are still experiencing historically low volatility. Range trading tends to work out better in low vol environments. That's why you'll notice this is like a range trade (sell at resistance and buy at support). With that said, the EUR and the GBP are starting to perk up, so a breakout trade may have some merit for the EURUSD.
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