EURUSD CONSOLIDATION 200-400PIPS

EURUSD IS EXTENDED IN PRICE AND NEEDS TO CONSOLIDATE, IT IS WITHIN A CONSOLIDATION ZONE
THEREFORE CANNOT RULE OUT BETWEEN 200-400 PIP CONSOLIDATION AND WILL THEN TARGET 12575 AND BEYOND.
A CONSOLIDATION OF MORE THAN 400 PIPS FROM 11895-12105 COULD TURN OUT TO BE COMPLEX AND INVALIDATE THE UPSIDE 12575 PRICE ZONE.
THIS MOVE IS STILL STRONG THEREFORE CAUTION IS WARRANTED TO THE DOWNSIDE.

Kommentera:

EURUSD is breaking down from the trendline (15min/1hr) caution still warranted as a break below 11830-11790 required for consolidation.

break below 11790 then 11400 probable downside support zone.