EUR/USD is consolidating sideways


The above is a daily chart of the EURUSD. We note that the pair is consolidating in a symmetrical triangle pattern. The RSI(9) is also oscillating around the 50 level (blue rectangle) which is typical of a consolidation period. We are now awaiting a directional break from the pattern. If the RSI (9) moves in the direction of the breakout (developing space between itself and the 50 level) this will give support to the directional break.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at are those of the individual authors and do not necessarily represent the opinion of or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.