akyong

EURUSD: Price in consolidation

FX:EURUSD   Euro Fx/U.S. Dollar
Nothing much is happening last week on this pair as price continues to consolidate between the 1.1480 and 1.1265 region. However, we do a have valid double top divergence setup, which price tested the 1.1450 level three times and failed to break above it.

Coming this week, we are still slightly to the bear side, keeping an eye on the 1.1480 structure region which confluences with a bearish pattern completion. As long as price respects the 1.1480 to 1.1535 region, we can expect the bears to be intact

A break below the 1.1260 level would potentially send price lower towards the 1.1150 to 1.1115 area which we have a potential pattern completion around that structural level as well.

I would love to hear your opinion, feel free to comment, agree or disagree.

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KY
Chief Currency Strategist
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