$EURUSD is range bound for now

12 May 2014

EURUSD has been stuck between ~1.37 and ~1.3950 since early march and with the RSI remaining over 50 and the stochastics highs and lows narrowing I think the consolidation will remain so the next short term move for the pair is higher. I am on the sidelines for now waiting to see a definitive move.