EURUSD Daily Analysis – December 4, 2018

EURUSD is forming a triangle pattern on the 4-hour chart. Another rise towards the upper trend line of the pattern is possible in a couple of days, a breakout of the this trend line could take the price to 1.1500 area. On the downside, a breakdown below the bottom support trend line could signal resumption of the downtrend from 1.1815 (Sep 24 high), then next target would be at 1.1200 area.

EURUSD 4-hour chart