Technical Analysis:
The EUR/USD pair has successfully broken out and closed above an ascending triangle pattern, signaling potential bullish momentum. However, caution is advised as the price is currently hovering near a resistance level just above the breakout zone. The absence of follow-up buying suggests the possibility of a bull trap, making it prudent to consider shorting the market if this scenario plays out. Alternatively, waiting for further price action to confirm a buying opportunity is advisable. At this stage, adopting a wait-and-watch approach is recommended until a clearer direction emerges.
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