FX.co ★ Evening review of EUR/USD for February 1, 2021

EUR/USD - H4 chart

Notice how the blue 100 moving average does not allow the euro to go up over and over again.

At the same time, the sell stop does not allow the euro to gow down. That is how consolidation occurs.

Notably, both the Swiss franc and the Japanese yen are looking towards the greenback, while the pound sterling and the euro age trying to go against the US dollar.

Nevertheless, the movement will obviously take place.

This may happen after the release of the US employment data on Wednesday and the Labour Departmenrt report on Friday.

One should consider entering long from 1.2160.

One should consider entering short from 1.2055.