EURUSD Price Action Analysis - triangle pattern to be formed for direction

W1 price is located below 200 period SMA (200 SMA) and below 100 period SMA (100-SMA) for the primary bearish market condition with secondary ranging between 23.6% Fibo resistance level at 1.1498 and Fibo support level at 1.0807:

• The price is floating near 50.0% Fibo level at 1.1260 for crossing from below to above and from above to below.
• Symmetric triangle pattern was formed by the price to be crossed for direction.
• "The Euro remains locked between the narrowing boundaries of a Triangle chart pattern as prices await a clear-cut directional spark. Prices lost momentum after hitting a seven-month high against the US Dollar in late August and have been unable to find lasting follow-through since."
• "Triangle top resistance is now at 1.1269. A daily closeabove this barrier clears the way for a challenge of the September 18 high at 1.1459. Alternatively, a dropbelow Triangle floor support – now at 1.1117– opens the door for a test of rising trend line set support set from mid-March, currently at 1.1018."
  

Trend:

• W1 - ranging bearish
• MN1 - ranging bearishn