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EUR/USD: in consolidation mode

   
There is little change in the analysis since yesterday as the pair has simply continued sideways in a consolidation just below key resistance at 1.1220.

The very short-term trend remains unclear since although the pair has broken down strongly and breached a trend-line, I would ideally want to see it break below the 1.1134 lows for confirmation of a continuation lower, with the next target at the Monthly Pivot at 1.1087.

Moreover a clean break below 1.1087, including a 20-point margin, so below 1.1067 could lead to a further continuation down to the next target at 1.1000.

In a addition, things go go the other way too, with a break above key resistance at 1.1234 signalling a move up to an initial target at 1.1267 – but it is still a little to early to say for sure.

EURUSDH26

   
There is little change in the analysis since yesterday as the pair has simply continued sideways in a consolidation just below key resistance at 1.1220.

The very short-term trend remains unclear since although the pair has broken down strongly and breached a trend-line, I would ideally want to see it break below the 1.1134 lows for confirmation of a continuation lower, with the next target at the Monthly Pivot at 1.1087.

Moreover a clean break below 1.1087, including a 20-point margin, so below 1.1067 could lead to a further continuation down to the next target at 1.1000.

In a addition, things go go the other way too, with a break above key resistance at 1.1234 signalling a move up to an initial target at 1.1267 – but it is still a little to early to say for sure.

EURUSDH26



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