It has been a slow trading week for many of the Forex currency pairs, we’ve seen momentum basically ‘flatline’ and a lot of consolidations and price churning going on – not good when you’re trying to make money. The EURUSD chart above shows this week’s price action forming a wedge pattern as price squeezes into the tip of a funnel. As a result – we’ve got a double Inside day setup, which is a very powerful framework, or catalyst for a nice breakout – like this one. Because the market has been weak with a dominant downtrend in place – we favor breakouts to the down side. A breakout into higher prices is possible, but the risk of trading breakouts against the trend is not a good idea because the chances of a ‘breakout trap’ occurring are too high. Hopefully the market breaks free of it’s consolidation and we get a nice clean move inline with the trend. Dale Woods Dale Woods The Forex Guy is an educational Forex trading blog run by Dale Woods who has been a passionate retail Forex trader for over 6 years. Dale trades the Forex market exclusively with price action based methodologies, believing price action trading to be one of the powerful approaches used the market today, and really is the core foundation of any good trading system. Dale also strongly believes in keeping charts clean and keeping things simple, logical and uncomplicated. By making trading decisions straight off the raw price action data, you can â€˜bypassâ€™ unnecessary variables like exotic indicators, trading robots or magical pivot levels. Dale enforces the idea that there is hardly any edge trading news and economic data releases and much prefers to make trading decisions straight from the candlestick themselves. â€˜The Forex Guyâ€™ is dedicated to providing knowledge to serious and passionate traders who want to learn the art of price action trading, positive geared money management and how to psychologically condition themselves to become a professional trader. View All Post By Dale Woods EUR/USD DailyForex News Today: Daily Trading News share Read Next French GDP surprises with +0.3%, but with a downward Yohay Elam 7 years It has been a slow trading week for many of the Forex currency pairs, we've seen momentum basically 'flatline' and a lot of consolidations and price churning going on - not good when you're trying to make money. The EURUSD chart above shows this week's price action forming a wedge pattern as price squeezes into the tip of a funnel. As a result - we've got a double Inside day setup, which is a very powerful framework, or catalyst for a nice breakout - like this one. Because the market has been weak with a dominant downtrend in place… Top 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.