EUR/USD Consolidating at 2015 Trendline; Overhead at 1.0710/60
Chart Prepared by Jamie Saettele, CMT
-“As noted many times in technical articles recently, the sideways trade since March 2015 represents the longest period of range contraction since the inception of the euro. The resulting break, whenever it happens, should be phenomenal. The median line has been resistance (at times to the pip) since August 2015. After Wednesday’s (11/9) events, the downside looks more appealing.” Fast forward and EUR/USD has reached the 2015 trendline, which may well provide support for a bounce.
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