The EUR/USD pair has seen a consolidation phase following the significant upside move this week. This has culminated in two daily candles trading around, and above, the 1.3000 round number area – but unable to print a new high as of yet. Price moved above the 61.8% Fib but has not yet seen a close above this technical level. The weekly chart shows a bullish engulfing candle which has formed after the rejection of the trend line support breakout. Support has been found at the 1.3000 area. Further to this the 1.2928 mark – 61.8% fib retracement of the latest rise. (full story)