EURUSD is forming a sideways consolidation in a range between 1.4309 and 1.4966 to the long term up trend. As long as 1.4309 support holds, we’d expected up trend to continue, and a break above 1.4966 level will signal the resumption of the up trend.
For long term analysis, the pair is in consolidation of the long term up trend. Rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.
