EUR/USD is slightly higher on the week ending without making a higher high or lower low forming a pin bar formation or inside bar.
The pair is currently in a down trend but was unable to follow through this week. EUR/USD may consolidate ahead of Ben Bernanke’s speech in Jackson Hole, WY at the end of the month before we see a break either way.
EUR USD Outlook
For now, traders must wait to see which way price leads out of this inside bar price formation. The trend is down and price is closing in the lower half of the prior week’s price bar. Friday’s price bar did close lower but not convincingly and the daily chart is currently in an uptrend. This pair could trade either way at the moment with a neutral bias.