EURUSD trades in extended consolidation above daily cloud top
The EURUSD traded within narrow range overnight and remains directionless at the beginning of the European session.
The pair is holding within triangular consolidation under 1.1961, which could extend further until generating fresh signal.
Yesterday’s long-legged Doji candle signaled strong indecision at key near-term support at 1.1833, provided by daily cloud top.
Next solid supports lay at 1.1808 (30 Nov low / strong downside rejection) and 1.1805 (Fibo 38.2% of 1.1553/1.1961 ascend) reinforce support zone (1.1805/33) which should contain corrective pullback from 1.1961, before broader bulls resume. Structure of daily studies remains bullish and supports scenario.
Conversely, increased downside risk could be expected on firm break below 1.1805 pivot which could signal further correction of 1.1553/1.1961 upleg
Res: 1.1878; 1.1927; 1.1940; 1.1965
Sup: 1.1833; 1.1805; 1.1794; 1.1757