EURUSD Analysis – The Calm Before the Break

[m_c_jacob]

f we exclude the sharp spike down from early August and the spike up in mid-September, EURUSD has been stuck in a sideways range for nearly three months, between 1.1600 and 1.1800 — quite a narrow band, even for such a stable pair.

In the past week, this consolidation has tightened even more, with price action trapped inside a mere 50-pip range between 1.1710 and 1.1760.

This kind of prolonged congestion usually ends with only one possible scenario — a breakout.
• Upside scenario:
A clean break above 1.1760 could trigger momentum buying, opening the way for a move toward the 1.1900 spike high.
• Downside scenario:
A decisive drop below 1.1710 would likely confirm a continuation to the downside, with 1.1500 emerging as the natural target zone.

At the moment, I’m out of the market, but my bias leans toward the downside — patiently waiting for the stars to align before taking action.

[m_c_jacob]

EurUsd seems to have confirmed my bearish outlook from yesterday
1.15 could be the target