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EURUSD Consolidates Just Below Key Resistance

The EURUSD pin bar setup that we discussed earlier this week has seen price move sideways to higher over the last two days. The market did show some rejection of 1.2950 - 1.3000 key resistance today but it's looking more like the market is taking on a neutral tone at this point. That 1.3000 resistance level is really the "line in the sand" for next week, and the market will need to stay contained below that level to have a chance at breaking lower. Otherwise, we could see more consolidation or a possible break out up above 1.3000 resistance. We will keep an eye on the price action near 1.2950 - 1.3000 early next week and update traders as changes develop.

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