If you read Sunday’s forecast, you know I wasn’t keen on the idea of buying the EURUSD. I even wrote that I was in no hurry to buy the pair. I also pointed out the lack of momentum since the beginning of June. For nearly two months, the single currency has been range bound following the 800 pip drop that commenced with the April 20th breakdown. This consolidation looks more like a continuation pattern to me than anything else. That’s how I’ve been treating it ever since the pair sold off from the 1.1830 handle on June 14th. As I write this, Friday’s bullish pin bar is failing. The pair has taken out its low at 1.1612 ... (full story)