Triangles are known for preceding the last wave of the larger sequence. In an A-B-C zig-zag pattern, the last wave is wave C. According to the Elliott Wave Principle, once wave C is over, there is a reversal. EURUSD seems to be giving us an example.
As it appears, there is a triangle wave B, connecting waves A and C. If this count is correct, we should expect a decline in EUR USD. And while the world is waiting for the FOMC interest rate decision later today, the intraday charts are giving us at least a short term hint.
