Consolidation range: The 1H chart shows a EUR/USD that has been consolidating this past session around the 1.33 handle and the 200hour SMA. This consolidating also rests above a rising trendline that comes up from the 1.2990 low from mid-July. Breakout scenarios: The current range is about 40 pips, so a breakout has an initial target 40 pips out of the range. A break above 1.3316 therefore first opens up 1.3356. The prevailing trend has been bullish so the break above 1.3316 should also open up the 1.34-1.3415 area with potential for a higher high. Price action is looking down as we start the 8/13 US session. If ... (full story)