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Some time ago I looked at the chart and expected a strong price change that would sum up last year’s downward move. However, as you can see, investors maintain the price in increasing consolidation, which proves that at 90% someone collects orders and does not want to cause a strong change in the market rate.

The blue dashed line shows the current “trend” in this consolidation. You can look for a wedge formation here, or if the price breaks resistance and it reverses the flag formation, but so far we have a slight strengthening of the European currency against the US dollar. If you break the level marked with “X”, you need to think about taking short positions. So far, this currency pair is very weak for any short-term investments.

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