EUR/USD: Euro remains within consolidation parameters

FXstreet.com (Barcelona) – Despite last week sell-out, Nicole Elliott, senior technical analyst at Mizuho Corporate Bank affirms that the Euro remains in consolidation: “Much has been made on last week’s sharp sell-off but note we remain well within normal consolidation parameters. We expect it to try a stabilise and bounce from support from the bottom of the large ‘triangle’, always allowing for a small ‘spike low’ or ‘false break’ below here.” Concerning strategy. Elliott advices: “Attempt longs at 1.4550, adding to 1.4440; stop below 1.4350. Short term target 1.4700/1.4750.”