EUR/USD consolidating after recent rally
EUR/USD is trading within a triangle formation following on from last week’s French election-fueled rally. The break through $1.0906 provided us with a confirmation of the wider uptrend, and as such even if we did sell off from here, it would look like simply being a correction within that trend.
For a bearish short-term view to come into play, we would need an hourly close below $1.0851. Conversely, an hourly close above $1.0950 would point towards another leg higher within the current uptrend.