EURUSD
Following the rally, we are seeing a minor consolidation. The smaller the pullback the more likely it is that this movement will help form a trend-confirming pattern. On the downside, the 1.1719 level could act as support; if the price does not fall below this level, there could still be significant upside potential. The target price from this pattern could be around the previous high. The thick green trend line, however, is an important support level and could also serve as a risk management level.
Resistance levels: 1.1841; 1.1962; 1.2085; 1.2207; 1.2329; 1.2451.
Support levels: 1.1719; 1.1597; 1.1475; 1,1352; 1.1230.
