EURUSD formed a cycle bottom at 1.4571 on 4-hour chart. Sideways consolidation between 1.4571 and 1.4908 could be seen in a couple of days. As long as price stays below 1.4908, we’d expect down trend to resume, and one more fall towards 1.4500 is still possible after consolidation. However, above 1.4908 will indicate that the down trend from 1.6038 (July 15 high) has completed.
