EURUSD Consolidation Continues. 1.1735/45 holds for now.
The EURUSD consolidation continues for now with the entire area highlighted within a rectangle on chart presented. Please note that the drop from 1.1733 to 1.1526 and subsequently rally through 1.1722 look like an a-b-c wave structures respectively. With each day passing within the consolidation range, probabilities of a complex corrective structure increases. A clear break above 1.1745 levels would be required to push further. Also note that a sharp decline to support of 1.1470 levels still remains a probability. Overall bullish structure remains intact but a sharp decline remains probable, before rally could resume.
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Disclaimer:
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