Is EUR/USD likely to remain in a consolidation?

Although last week was marked by periods of high volatility, the major currency pair, EUR/USD continues to trade in sideways.

Is EUR/USD likely to remain in a consolidation? Or Could the current consolidation zone dictate a new trend in the pair?

EUR/USD - 4 hour time frame chart

We can see that since price has approached the lower boundary of the channel, that the downtrend has come back. Besides that, there is some evidence that the bearish scenario seems most likely to happen.

Although the price is consolidating, we can see that the price is trading in the expansive channel, which could dictate a further bearish move if sellers manage to break lower the chart pattern.
Furthermore, this channel is also reinforced by Elliott wave theory which suggests that the correction phase may be about to end.

EUR/USD, 4 hours frame chart. Source: xStation 5

EUR/USD 1 hour time frame chart. Source: xStation 5

AUD is leading the gains at this moment.

Heatmap. Source: xStation 5

Henrique Tomé, XTB Portugal

29 May 2026, 6:53 PM

Daily Summary: Buyers continue to dominate the markets despite geopolitical turmoil⏰

29 May 2026, 6:26 PM

📆Three markets to watch next week (29.05.2026)

29 May 2026, 5:28 PM

Hungary Unlocks EU Funds; EUR/HUF Drops 0.5%

29 May 2026, 2:40 PM

RBNZ Regime Change: The Ultimate Hard-Hawk Pivot 🦅 Time to shine for NZD 🇳🇿

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days