The 1H EUR/USD chart shows a bullish market in the short-term as it trades in an upward tilting channel. The RSI has remained above 40 after breaking above 70. As we go through the holidays the market trades in consolidation with the RSI stuck between 40 and 60. Price action to the upside is not convincing as bearish candles have shown more decisiveness, and bullish ones look laborious since Dec. 21. The channel we see in the 1H chart looks like a flag pattern in the 4H chart. The RSI here still remains below 60 and shows maintenance of the bearish momentum. The 1.3160 area proved to be an important resistance ... (full story)