Lackluster movements have been a pattern for many instruments at the beginning of 2022, despite ongoing global events with regards to the Omicron variant. The US Dollar has shown some weakness, however, the Euro-Dollar pair continues to range.
- In spite of the current sideways movement, the price is nearing the end of the ascending triangle that has been formed and may be looking for a breakout. Bears will look for a continuation with a break below 1.13000.
- On the other hand, bulls will be looking for a breakout above 1.14000.