The EUR/USD squeeze this week has brought the market from Friday’s (7/6) low of 1.2255 to the 7/10 high so far at 1.2330. The 7/10 US session started with a push to new intra-session low and a break below an adjusted flag pattern support. The market is still consolidating. If the RSI pops back up above 40 during the US session the consolidation momentum remains and the EUR/USD short squeeze would still be in play if price also pushes back above the 1.23 handle. However, it should be noted that the RSI has dipped below 30 last Friday (7/6) and has remained below 60. Therefore there is a bearish bias. IF the RSI does ... (full story)