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EUR/USD and GBP/USD Forecast July 23, 2018

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The EUR/USD pair initially dipped a bit during the day on Friday but turned around to explode to the upside. I have drawn a couple of trendlines now to sketch out a symmetrical triangle that I think is starting to come into play. If we can break higher, sensibly making a fresh, new high, then the market probably then goes to the 1.1850 level, perhaps even the 1.20 level which is even more resistive. However, until we exit this symmetrical triangle, I’m not willing to trade this market as it think it is simply far too noisy, especially with the political theater going on in the European Union and of course the random tweet from the president of the United States dealing with trade and interest rates. for more analysis: http://www.dailyforex.com
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