EUR/USD went back and forth during the session on Wednesday a very similar manner as to how I did it on Tuesday. Because of this, the market does look very confused and like it wants to grind around in this consolidation area, leaving us to be essentially neutral on this currency pair at the moment.
Having said that is most certainly in and out trend these days, and as a result we think that eventually we will breakout to the upside. But until we get above the 1.34 level, we have to consider ourselves still within the consolidation area that starts in the 1.3250 level. With that being said, we are flat.
Written by FX Empire