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EUR/USD: Consolidating On Major Channel Line

Published 04/21/2015, 05:10 AM
Updated 07/07/2019, 08:10 AM


The EUR/USD is in a sideways consolidation within a broader down-trend which has hit support from a major channel line in the 1.04s and is now going sideways.


A break above the 1.0832 highs and the monthly pivot would probably confirm a renewal of the current mini-up-trend, with a target at the top of the range at 1.1030.


Alternatively a move below the key 1.0570 lows would probably confirm a recapitulation and a short move down to the 1.0520 lows.

EUR/USD 1 Hour Chart

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