Sell EURUSD Triangle Pattern

Sell EURUSD Triangle Pattern

EUR/USD Trading Sideways: The pair remains stuck between 1.0930 and 1.0960, struggling for direction despite recent developments. Here are the key factors influencing the current situation:

Bullish Factors:

Softer Fed rhetoric: The perceived shift towards a less hawkish Federal Reserve has weakened the US dollar and boosted the euro.

ECB hawkishness: The European Central Bank's commitment to further rate hikes provides some support for the euro.

Risk appetite: A cautious improvement in global risk sentiment slightly benefits the euro.
Bearish Factors:

German concerns: Weak German Ifo business confidence data raises concerns about the eurozone's economic outlook.

Geopolitical uncertainties: Ongoing global tensions, including the war in Ukraine, remain a source of risk aversion and could weigh on the euro.

Profit-taking: After the recent rally, some profit-taking could be pushing EUR/USD lower.

Trade active

Trade closed: stop reached