The expectations from big players for EUR/USD shows the median value in a normal distribution 1.06 for Q2 2017. This is close to current levels where we expect a short-term consolidation. Expectations vary between 1.02 and 1.09.
Technically, price has relied on support levels, where long positions do not seem utterly illogical.
From fundamental point of view the scales are also aligned: On one hand the euro will remain under pressure from political uncertainty with the approach of elections in France and on the other hand with uncertainties about Trump's policies and the less - than - expected NFP data on Friday will not give grounds for purchases in US currency.
Trade opportunity: We have to wait for the breakaway of the diagonal support is real and can be positioned short or for a suitable formation of Japanese candles and a false breakout for long.
Trader Nikolay Georgiev
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