EURUSD has set up a solid base between 1.2200 and 1.2160. While holding 1.2160 the euro bulls try to re-visit last week’s high 1.2323-1.2350. Near term resistance zone seems between 1.2330-1.2360.
The below hourly chart the price action has been consolidating in a symmetrical triangle. A move below 1.2160 needed to forecast a near term retracement to 1.2100 and 1.2050.
The below hourly chart the price action has been consolidating in a symmetrical triangle. A move below 1.2160 needed to forecast a near term retracement to 1.2100 and 1.2050.