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EUR/USD: Still Trapped Within Consolidation Range

Published 16/12/2014, 08:20
EUR/USD
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EURUSD Daily - Very small trading range on yesterdays candle - It's still below the weekly fib level though. OsMa on Daily is bright green - so still within a consolidation. Looking back over the past couple of months Price has battled to really move lower with LT trend direction. We might verywell be stuck within this range going into 2015. Daily chart shows Convergence on Price with RSI. That LT S&R level @ 1.21344 is a stones throw away. We'd need to see Daily drop lower and the OsMa to follow.

Economic data out today we have to look out for are : French Flash Manufacturing PMI, followed by German Flash Manufacturing PMI & German ZEW Economic Sentiment figures.


EURUSD weekly chart 14th -20th December 2014EURUSD Daily chart 16th December 2014

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