EUR/USD - Week 51 - Consolidation Period

EUR/USD is in a big weekly bullish trend and we expect the market to go in a deeper consolidation before resuming the uptrend. We are making continuous higher-highs and the price is starting to lose momentum. This is a sign that the trend is getting exhausted and the market is expected to correct at any point. This week the US Bureau of Economic Analysis will release the data for the Annualized GDP which could be the trigger for the price to move in the direction we expect.

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Trade is still valid. We still expect a complex correction.