1.31, consolidation: Following up with yesterday’s (12/12) update on EUR/USD, the pair continues to consolidate under the 1.31 handle. After failing to push above 1.31 during the 12/12 US session, the market tried again during the 12/13 Asian session. The second attempt was ever so slightly higher, still failing to break 1.31. A bearish divergence with the RSI was then resolved as European trading brought EUR/USD back to around 1.3050 to start the 12/13 US session. Double top vs. expanded flat, 1.3077: The 1H chart shows that so far, we have basically completed a double top. But the topping action is still a bit ... (full story)