EUR/USD has been trading in a consolidation phase this week which has culminated in an “inside week” candle formation. The 1.3171 area previous resistance level has acted as support, and the 1.3307 19/12/12 pinbar high has not yet been taken out over recent trading. Euro/dollar has been oscillating between these perceived value areas, with a sustained breakout of the inside week potentially providing a directional bias going forward. Large speculators from the CME (Chicago Mercantile Exchange) continue to align themselves with this trend and have further cut bearish EUR FX positions, taking the net short EUR position ... (full story)