Could be. It's definitely in consolidation mode but I don't know if it's getting ready for a move up or down. Based on the bullish breakout on the 4 hour chart, I'd say up but I'm waiting on the TDI to tell me which way to go. If it moves back up, EU will hit 1.5150 easily and could go to 1.53. The daily chart is bullish right now with the TDI rising and the HA candles moving up in the channel at a sharp upward angle. The daily is only in the 4th HA candle so more topside is very possible.
This 4 hour chart is sideways right now but has plenty of room to run up if it wants to.
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