Since EURUSD has broken below both rising trendline and bottom of a range with a strong bearish candle, the price went into consolidation since last Friday.
The consolidation has carried on till now where the 2nd wave of retracement is most likely to be completed by the US session.
Once the retracement channel is completed, we can look for a sign of a stop for any further upward movement and look for selling opportunity at 1.1258 - 1.1270.
If price persists to consolidated further upwards, we will wait for 1.1280 which is the breakout level on the bottom of the previous range.
The consolidation has carried on till now where the 2nd wave of retracement is most likely to be completed by the US session.
Once the retracement channel is completed, we can look for a sign of a stop for any further upward movement and look for selling opportunity at 1.1258 - 1.1270.
If price persists to consolidated further upwards, we will wait for 1.1280 which is the breakout level on the bottom of the previous range.
