FXstreet.com (Barcelona) - The Euro has given back most of the gains reached in April, which according to Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, shows the starting point of a consolidation period : The move signals the start of a period of consolidation which should dominate the next month or so. For today expect random moves roughly between 1.5550 and 1.5750.

Concerning strategy, Elliott advices: Possibly attempt tiny longs at 1.5650; stop below 1.5500. Short term target 1.5800/1.5850.