Uh Oooooh.

Aw man, it looks like the  EURUSD is posting an inside day. Yesterday had range of  H:1.29567-L:1.28586.  Today's range is H:1.29620-L:1.28830. Although the price has reached above yesterday's high the price has body of today's candle has stayed within yesterday's real body. 1.2960 looks like its resistance today, remember it was support on the way down to these levels. Seems to me that this pair could be looking to a move to the upside after all these days and weeks of selling to these lows. Also don't forget about yesterday's post about this pair's Divergence on the hourly chart. Below is a figure showing the candles and RSI which are telling us this pair is oversold. 

But so what if this pair looks oversold, remember kids, the trend is your friend, and we don't pick bottoms; we read charts and make money. This chart tells me we are in an area of congestion (not consolidation). Banks may be distributing and accumulating in this pair. In other words, they're selling heavy to give the illusion of a negative outlook while in smaller orders they are accumulating as many EUR as possible before the big move higher; in the process scaring retail traders into selling them orders they can buy and suppressing the price creating discounts. I'd be looking for nice intra-day support levels to start building my position while keeping the downplay in motion ...but that's just what I think, lol. Good luck.