EUR/USD: Consolidating On Major Channel Line
Forex4you | Apr 21, 2015 05:10AM ET
The EUR/USD is in a sideways consolidation within a broader down-trend which has hit support from a major channel line in the 1.04s and is now going sideways.
A break above the 1.0832 highs and the monthly pivot would probably confirm a renewal of the current mini-up-trend, with a target at the top of the range at 1.1030.
Alternatively a move below the key 1.0570 lows would probably confirm a recapitulation and a short move down to the 1.0520 lows.
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