EUR/USD: Upside Could Be Limited

 | Jan 13, 2022 06:59AM ET

EUR/USD is trading higher, now breaking out of a triangle pattern after US CPI figures.

We know that a triangle can occur in wave B, not wave two. Therefore, we think the upside could be limited, capping at around 1.145.

However, important will be to wait on an intraday sell-off back to 1.1300 or lower to confirm the end of a corrective recovery since November last year.