All through the week, the range in the EUR/USD pair tightened day after day, and Friday seems to be no exception: the pair trades within a symmetrical triangle approaching to its vertex, making of a break either side of the figure a pretty uneventful when it comes to giving a trading signal. Earlier today there was plenty of data in the EZ, with inflation and GDP readings for the area itself and some of the major countries, with EZ inflation steady at 0.3%, and GDP ticking higher yearly basis up to 0.8%.
The EUR/USD pair however failed to react to the news, stuck around 1.2450/60. The 4 hours chart shows still a neutral stance, with 20 SMA and indicators unable to set a direction. As commented on previous updates, a clear breakout above 1.2520 or below 1.2400 is required to see the pair gaining some directional strength, and move 30/50 pips.
View Live Chart for EUR/USD
The EUR/USD pair however failed to react to the news, stuck around 1.2450/60. The 4 hours chart shows still a neutral stance, with 20 SMA and indicators unable to set a direction. As commented on previous updates, a clear breakout above 1.2520 or below 1.2400 is required to see the pair gaining some directional strength, and move 30/50 pips.
View Live Chart for EUR/USD
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