The euro/dollar pair is currently consolidating around the psychological 1.3000 handle round number area, aligned with the descending trend line, as per the daily/weekly timeframe charts below. Price has now pushed convincingly under the 200 SMA level, a focus on any near term corrective upside move. Further to this, the 1.3135 area PPZ is located just above the 200 SMA, this level has recently capped the pair as resistance. We also note, the 1.3240 area has acted as a major price pivot over recent months. The above comes in the context of the EURUSD pair trading under a bearish engulfing candle formation from last ... (full story)