EURUSD Status Rangebound

EURUSD (and the other majors) is still trading inside a consolidation range between 1.4650 and 1.4950. On the larger timeframes (daily, weekly) we can see the pair reached the support trendline connecting a higher highs starting early 2006 so a consolidation especially after the spectacular drop we had is not out of the ordinary. The other majors are also rangebound USDCHF trading between 1.0850 and 1.10; USDJPY 110.00 and 108.00 only. EURUSD (and the other majors) is still trading inside a consolidation range between 1.4650 and 1.4950. On the larger timeframes (daily, weekly) we can see the pair reached the support trendline connecting a higher highs starting early 2006 so a consolidation especially after the spectacular drop we had is not out of the ordinary. The other majors are also range bound USDCHF trading between 1.0850 and 1.10; USDJPY 110.00 and 108.00 only. Consolidations are a continuation pattern but we recommend some patience before committing to a trend move before the USD makes up it’s mind.

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