EUR/USD Consolidation after the Gap is Bullish
Chart Prepared by Jamie Saettele, CMT
-The EUR/USD gap through a trendline is a great way for a ‘sizeable move’ to begin. A trendline confluence is near 1.1000 and could influence for a pause. After that, the long term median line is near 1.1100. If that breaks, then start getting creative on where this could go (will address it when/if action dictates). Near term, it’s a positive that price has consolidated in a range following the gap rather than pulled back to fill the gap.
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