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EUR/USD Focuses on Consolidation Resistance in 1.2590-1.26
Following up with the bounce in EUR/USD from a projected triangle support during late 8/30, the market pushed it higher during the 8/13 Asian-European session. As gear up for the 8/31 US session, the pair has broken above a projected triangle resistance, and is now focused on the pending break of the 1.2590-1.26 consolidation resistance area.In the previous update, I noted that hold below 1.2535 could be a sign the bears are in charge and likely focused on testing 1.24. Now, if the market can 1) clear 1.26, 2) hold above 1.2535 in a throwback, I think the signs will be very clearly bullish, exposing the next ... (full story)
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