EUR/USD is trading just above flat as GBP takes the limelight. There is a massive consolidation forming on the 4-hour chart. EUR/USD 4-hour chart EUR/USD has to play second fiddle to GBP when it came to the big news today. The battle came between who would outperform against the pound EUR or the USD. In any case, the EUR slightly edged that battle and trades 0.08% higher. We are stuck between a rock and a hard place at the moment with both the Fed and ECB as both are not budging. Looking at the chart the fight between the bulls and bears is clear. They are currently at gridlock between 1.20 and 1.17. As ECB members spoke about the EUR being overvalued and too high it looked like the price could fall but a test of 1.1737 was all the bears could manage. From a traders perspective, I would avoid this one like the plague. At least until the consolidation breaks but having said that, a range trading strategy could do well. The indicators are both meandering in the mid-zone. The Relative Strength Index is at the 50 mark and the MACD histogram is near the midpoint. The signal lines are also stick in the middle but slightly below the mid-area. Overall on the higher timeframes, this could still be considered as an uptrend. For the trend to continue however the black line at 1.20 would need to be broken and a break of the green mean value are would be a great start. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD steadies below 0.7300, looks to close modestly lower FX Street 2 years EUR/USD is trading just above flat as GBP takes the limelight. There is a massive consolidation forming on the 4-hour chart. EUR/USD 4-hour chart EUR/USD has to play second fiddle to GBP when it came to the big news today. The battle came between who would outperform against the pound EUR or the USD. In any case, the EUR slightly edged that battle and trades 0.08% higher. We are stuck between a rock and a hard place at the moment with both the Fed and ECB as both are not budging. Looking at the chart the fight between the bulls… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.