EUR/USD Consolidation

EUR/USD has been consolidating around 1.06 for the past few days. It seems that nothing is strong enough to drive the market participants in either directions. The pair made a high of 1.06289 today and is now back towards the 1.06 level.

If the price continues to consolidate we might see a loss of interest and a bearish takeover with first short-term target at 1.0522. Lower than that we might be heading towards parity, given that the Trump administration continues to boost market expectations.

On the other hand, if we get bad economic data this week from the US, Euro bulls will use the opportunity to push price higher to a possible first target at 1.0680.

Chart: EUR/USD H4