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.
