The chart closed the week above 1.0369 but below 1.0481 so still the price is in a consolidation mode.
I filtered out from the economic calendar these news for the next week: Wednesday EU CPI & Fed Chair Powell Speech, Thursday US Core PCE Price Index & Friday NFP. Many others news will be out and the volatility I expect EURUSD to travel at least is 148 pips.
The price may close above or below a level but if it closses back inside then it is considered a fake close and we should watch the developements because in this case EU may stay in this trading range for more - weekly chart.
At the hourly chart EU should stay above at least 50% fibo level so the bulls can fade any drop at or below or rise above 1.0449 for a test of 1.0481.
Have a great rest of the weekend!
I filtered out from the economic calendar these news for the next week: Wednesday EU CPI & Fed Chair Powell Speech, Thursday US Core PCE Price Index & Friday NFP. Many others news will be out and the volatility I expect EURUSD to travel at least is 148 pips.
The price may close above or below a level but if it closses back inside then it is considered a fake close and we should watch the developements because in this case EU may stay in this trading range for more - weekly chart.
At the hourly chart EU should stay above at least 50% fibo level so the bulls can fade any drop at or below or rise above 1.0449 for a test of 1.0481.
Have a great rest of the weekend!

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