The last few daysâ€™ movement is between 1.4787 and 1.4862. As is shown on the chart I suggest that we deal with a triangle. If this suggestion is correct, it is still not over and we should see at least one more day in the said range. Currently there is still no clearness if the potential triangle is bullish or bearish and only a break of the 1.4787 â€“ 1.4862 range will give a direction. With an eye on the current uncertainty and the expected continuation of the consolidation I am currently flat.
Trading strategy: 09:30 EST; 14:30 GMT
This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.