EUR/USD Is Still Consolidating

EUR/USD is still stuck in its sideways consolidation that not even the fundamentals last week could push it to break out above or below it. Currently the pair is moving to the downside again, after it bounced off from 1.1140 last Friday – clearly the shooting star candlestick that had formed below the resistance at 1.1300 before the drop is still a valid signal for a move to the downside. What is more, the pair has also formed a rather impressive spinning top candlestick on the weekly time-frame, which also indicates a possible move to the downside. Either way, that move to the downside will be confirmed if the pair breaks out below the support at 1.1140 and the previous low at 1.1110.