The Euro/Usd is now consolidating in a tight triangle formation on the daily and is bound to break out in any direction given the market volatility and uncertainty.It is making lower highs but at the same time getting caught in a tight range.
The Nzd/Usd seems to be making a head and shoulders pattern and i will be waiting to see how it breaks out before i can enter on the trade.
One pair i will be watching closely come next month is the Chf/Jpy that has made a huge bearish pin bar on the monthly chart.With all the interventions from both countries and the recession fears from Europe and US,most traders will really be watching this pair.
Euro barely breaking out like the rest of the riskier asset class the AUD and the NZD which are trading much higher. The British pound is trading higher currently but has lost a lot of steam coming into the US session.
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