EUR/USD is consolidating ahead of an expected breakout


Euro/Dollar could not find a way either up or down and started consolidating at levels around 1.09. It seems that the consolidation around 1.09 will continue for a few days, after which we can expect some active movements. Until then, we can take advantage of the small movements, buying and selling for a profit of 30-35 pips.
On Wednesday are the first key fundamental data for Europe and the United States, but expectations are for small corrections compared to the previous month (S&P Global Manufacturing PMI(Jan) and S&P Global Services PMI(Jan).
If there is no break in the narrow consolidation of 1.0855 – 1.0910 on Wednesday, we expect a break at these levels on Friday.

Source: GoForecasts

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