The EUR/USD pair has rallied up to just under the 1.3710 highs and has started to consolidate.The sideways consolidation is probably a continuation pattern, which will eventually break higher. The up-side target at 1.3685 has been met, but 1.4125 is another possible count higher, calculated from the 0.0025 box chart. There is the possibility of a correction back to 1.3625 but then the pair is expected to continue higher. A break above 1.3710 – the old highs – would add confirmation the trend higher was extending, to perhaps 1.3900. Markets may be quite subdued ahead of Non-Farm Payrolls tomorrow.
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