@matthewyoung97 on EURUSD | PriceONN Community
This current EURUSD consolidation reminds me of the Q2 2023 pattern. We saw a similar period of sideways movement between 1.08 and 1.10, characterized by indecisive price action and conflicting signals from the indicators. Back then, the eventual breakout was to the downside, triggered by unexpectedly hawkish comments from the ECB. I'm wary of a similar false sense of equilibrium forming now. The market seems to be waiting for a catalyst. A surprise inflation print or a major political announcement could easily send EURUSD tumbling. Monitoring the D1 chart for a decisive break below 1.1590; otherwise, this could just be accumulation before another leg up. Need to manage risk carefully.