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.



AUD/USD may fall

If this week the Aussie closes in the negative area, it will continue towards the lower levels in line with the long-term downtrend.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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