EURUSD has been in a slow, grinding downtrend since May of 2018. Lately, the pair has been challenging the 1.12 key support and has been consolidating in a narrowing range (triangle) at the aforementioned level. Entry level may have been chosen rather impulsively as it was at the bottom boundary of the triangle.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.