EUR/USD: euro is trading in consolidation range

EUR/USD: euro is trading in consolidation range

On the EUR/USD daily chart, there is a consolidation in the range of 1.085-1.095. A break of its lower border can lead to the realization of the "Three Movements" pattern and correction towards 1.077. In contrast, a successful test of the upper border of the range can lead to the continuation of the rally towards the 1.091-1.102 convergence zone. There is an intersection of long-term downward and medium-term upward trading channels.

On the EUR/USD hourly chart, the bulls need to be cautious with trading breakouts. There is a 200% target of the AB = CD pattern near 1.1020.

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