Pivot: 1.073
Most Likely Scenario: Long positions above 1.073 with targets @ 1.085 & 1.089 in extension.
Alternative scenario: Below 1.073 look for further downside with 1.0655 & 1.062 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
The foreign exchange market (forex, FX, or currency market) is a form of exchange for the global decentralized trading of international currencies. The foreign exchange market, which is usually known as "forex" or "FX," is the largest financial market in the world. Compared to the measly $22.4 billion a day volume of the New York Stock Exchange, the foreign exchange market looks absolutely ginormous with its $5 TRILLION a day trade volume. Forex rocks our socks!
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