Consolidation, breakout scenario: The 4H EUR/USD chart shows a market that is consolidating after a bullish swing from 1.2754 to almost 1.32. The consolidation has been around a flat 200-4H SMA, which means price has been swinging around a neutral price area within a non-directional market. However, a pop above 1.32 exposes the EUR/USD to 1.3411, June high. Before that, there is possible resistance in the 1.3255-1.3270 area, which includes a support/resistance pivot and 78.6% retracement. Moving averages, RSI: As noted, the 200-4H SMA is flat, showing an overall directionless market, which is true after the 2013 ... (full story)