EUR/USD 1H Chart: Descending Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The most traded currency couple has shaped a descending triangle pattern that despite being relatively short, only 76-bar long, is worth examining now as the pair is unremittingly approaching the apex. EUR/USD is likely to reach this mark on March 12, meaning that the breakout is looming.
At the moment, market players are moderately bullish on the pair, with almost 60% of all orders being placed to buy the currency couple. Meanwhile, technical data fails to shed the light on the direction of the future breakout, being neutral for medium and long term.
© Dukascopy Bank SA
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