EUR/USD: consolidation in a tiny range

EUR/USD: consolidation in a tiny range

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There's a bearish correction, which is taking place on the four-hours chart. The last bullish "High Wave" pattern hasn't been confirmed yet, so the market is likely going to test the 55 Moving Average in the short term.

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The price is still consolidating in a tiny range of bullish and bearish patterns. If the 34 Moving Average acts as resistance, we're likely going to have a new local low shortly.

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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