Consolidation continues for EUR/USD. Unlike yesterday the pair did test the support around 1.1750 but could not break below it and bounced back. It looks like we are in for some range – the channel is quite clearly defined by now. I admit that when it is so obvious I am tempted to trade range, as much as I dislike doing that, and I might just do it. I just have to suppress the temptation to open any positions in the middle of it – that is always a poor idea. I wonder how long range is going to last this time – I don’t know about you, but I’ve noticed that range always seems endless to me. It always seems to actually end just when you’re about to go give up waiting.