The EUR/USD pair is printing an indecisive candlestick after a bull run last week, signaling that market participants are taking a break to assess latest news from the Fed.
The USD consolidation phase may not last long as important US reports are scheduled for tomorrow: US retail sales, core retail sales, and Fed's Powell is delivering a speech.
The pair will likely continue to trade sideways until markets get a clearer picture of the future US monetary policy.
We're overall neutral/bullish on the pair. The price made consecutive higher highs and higher lows since May, and we've already traded the recent wedge breakout combined with a hidden bullish RSI divergence.
Like our analysis? Please support us by hitting the "LIKE" button. Thanks!
The USD consolidation phase may not last long as important US reports are scheduled for tomorrow: US retail sales, core retail sales, and Fed's Powell is delivering a speech.
The pair will likely continue to trade sideways until markets get a clearer picture of the future US monetary policy.
We're overall neutral/bullish on the pair. The price made consecutive higher highs and higher lows since May, and we've already traded the recent wedge breakout combined with a hidden bullish RSI divergence.
Like our analysis? Please support us by hitting the "LIKE" button. Thanks!
