EUR/USD: pair is consolidating

EUR/USD: pair is consolidating


The main trend is still bullish, but the price is consolidating. It's likely that the market is going to test the nearest resistance at 1.2500 - 1.2537. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the closest support at 1.2456 - 1.2358.


The pair is consolidating between the levels 1.2456 - 1.2384. The main intraday target is the next resistance area at 1.2493 - 1.2537, which could be a departure point for a bearish correction.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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