Price action on EUR/USD, a daily chart of which is shown, has consolidated in an inverted flag-like formation since late December. This occurs after price dropped substantially starting in the beginning of December, breaking down below a key uptrend that had been in place since the March lows. In the process of dropping, EUR/USD also broke down below several key support levels, most recent of which was the approximate 1.4450 price region. After breaking down below this level in mid-December, price has repeatedly attempted but failed to breakout above it once again, forming the noted flag consolidation in the process. For more technical analysis on this currency pair,
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