The EURUSD breaks higher out of a two month consolidation!

The EURUSD finally broke higher out of the two month consolidation with the pair reaching as high as 1.1550 today. After two tough months of a sideways consolidation, the pair looks set to test the 161% extension of the last move lower at 1.1616, then the 200dma at 1.1630. If the extension is to reach its fullest capabilities we could see as high as the 1.1710 level as a result of this breakout.

EURUSD Bullish Breakout

Blake Morrow