EUR/USD: calm before the storm. Will history repeat itself?
As it can be inferred from the DAILY (D) timeframe chart, the price is approaching the upper boundary of the descending channel that is illustrated on the graph.
As we know, before an impulsive move happens, the price should go through a consolidation phase. This can be clearly observed taking a look at the historical price action.
Thus, we are keeping a close eye on this pair and monitoring the development of the price before potentially going short and aiming for the lower boundary of the channel.
As we know, before an impulsive move happens, the price should go through a consolidation phase. This can be clearly observed taking a look at the historical price action.
Thus, we are keeping a close eye on this pair and monitoring the development of the price before potentially going short and aiming for the lower boundary of the channel.
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