EURUSD (1.2379): The EURUSD was seen trading weaker on Monday but price action continues to remain near the highs. On the 4-hour chart, price action is seen consolidating within the bullish flag pattern. A break out above 1.2400 is required for the common currency to target the previous highs at 1.2497. This could extend the gains further towards 1.2659. To the downside, a break down below 1.2336 could signal a correction and invalidate the bullish flag pattern. The 4-hour Stochastics is currently oversold and rising and could indicate a near term move to the upside.
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