Technical Analysis – EURUSD rebounds on minor ascending line; lacks direction

EURUSD has been trading within a triangle pattern over the last seven weeks after it hit a 13-month peak slightly below the 1.1500 handle. The price is currently touching the upper boundary of the formation, while not far above the 20-day simple moving average (SMA) is also located. Looking at the technical indicators, the MACD although below its red trigger line, […]