The last EUR/USD update noted the break below 1.22, and the continuing bearish outlook toward 1.20, 1.19. 7/13 price action is saying “not so fast” as the 9AM EDT candle sprung from a new low for the week at 1.2158, back to 1.2240. The spike stalled a bit right after the Umich consumer sentiment survey for July, which came out at 72.00, missing forecast of 73.5, and sliding from June’s 73.2 reading. This one hourly candle engulfed the entire consolidation during the 7/12 session, and broke above this week’s declining channel resistance. It is now looking toward 1.23 if 1.2250 can’t hold resistance. Note that this ... (full story)