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YourLazyTrader
May 16, 2023 11:41 AM

EUR/USD stuck in consolidation, will news offer direction? 

Euro Fx/U.S. DollarFXCM

Description

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.
Comments
P_S_trade
Thanks for sharing your vision
KABHI_FOREX_TRADING
Great sell ENtry, Good work
RLinda
Nice work. I think a strong set up will work just right) Thanks buddy)
KlejdiCuni
I am watching for the same price development. Thanks
Tolberti
Very nice! Keep posting.
ProjectSyndicate
looks good, let's keep the fingers crossed
basictradingtv
awesome work, supportive as always!
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