EUR/USD Consolidates on the 240 minute chart

The longer term timeframes have been consolidating over the week and while I don’t necessarily expect tomorrow to be the big breakout day I do want to keep an eye on this set up going into tomorrow and next week.

The market cycle is sideways and sets up this momentum play from the congestion of the triangle.

The overall (daily) trend of the EUR/USD is up and is currently sitting on Wave support and trading at the 1.3900 level.