EUR/USD stuck in consolidation, will news offer direction?
EUR/USD has been stuck in a consolidation phase for quite sometime now. No major moves are
being observed in EURUSD. However, with the US core retail sales data coming up in an hour, it
is likely to see some big impulsive moves in EURUSD.
Either way, 1.09 is a critical level. If the price breaks through this level with a big bullish candle and continues
to stay above 1.09, then surely we will see more upside towards 1.1050. However, failure to break the
1.0904 level would open the door towards 1.0750 instead.
being observed in EURUSD. However, with the US core retail sales data coming up in an hour, it
is likely to see some big impulsive moves in EURUSD.
Either way, 1.09 is a critical level. If the price breaks through this level with a big bullish candle and continues
to stay above 1.09, then surely we will see more upside towards 1.1050. However, failure to break the
1.0904 level would open the door towards 1.0750 instead.