The EUR/USD is finding support at a rising consolidation trendline that connects the low of 1.2042 low of 7/24 with the 1.2133 low of 8/2. The 1H chart shows a market losing momentum in the near-term as well, with the price-RSI reading showing a bullish divergence. The overall momentum has been range-bound. If the price action whips back above the 200-hour SMA, and the RSI pushes back above 60, we would be clearly back into the consolidation mode, with focus turned back to the upside, where a declining trendline is seen in the 4H chart. A break above 1.24 can probably clear the trendline, though a break above the ... (full story)