Technical Analysis – EURUSD consolidates after big rally
Posted on September 7, 2016 at 7:15 am GMTEURUSD intra-day bias is neutral and the 4-hour momentum indicators have levelled off, indicating that consolidation is likely after a big gain on Tuesday. Prices rose over 100 pips, bringing EURUSD back above the key 1.1200 level. There is still a possibility for more upside momentum as long as the RSI and stochastic indicators remain positive. Looking at the Daily Chart below: To the upside resistance will come in at the 23.6% Fibonacci retracement level of the upleg from [..]