EUR/USD is consolidating within 100 pips around 1.35 as we can see in the below weekly chart the trend line still supporting 1.35 and breaking the trend line would increase the chances of forming a double top and send the EUR/USD to the bottom line of the channel.



In the 1 hour chart below there is a clear channel formed at the weekly trend line, today the PMI from the Euro Zone and US + Unemployment Claims and existing home sales from US will decide which direction the pair will go. ill be taking short or long positions according to the channel breakout targeting 1.34 for short and 1.37 for long .



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