The EUR/USD pair is trading around 1.1802 within a symmetrical triangle pattern formed since February 18. In the coming hours, the euro will likely continue to move within this pattern, awaiting a decisive breakout.
If there is a break above the downtrend channel and consolidation above 1.1840, we could expect the euro to return to 1.1962 and could even rebound to the psychological level of 1.2000.
On the contrary, if there is a sharp break below 1.1760, the outlook could be negative for the euro, and we expect it to reach the 4/8 Murray around 1.1718 in the short term. EUR/USD could eventually reach the lower band of the downtrend channel around 1.1660.
The Eagle indicator is showing a positive signal. So, there could be opportunities to buy within the symmetrical triangle pattern above 1.1770 and 1.1760 with targets at 1.1840 and 1.1962.
