KrunchieKilleen

EUR/USD UPTREND ADJUSTS ITS CHANNEL

FX:EURUSD   Euro/U.S. Dollar
51 0 5
In January, I drew the dotted-green "Projected Upslope 2016," based on the long-term pattern. The Euro             has trended upwards against the US Dollar             since then, keeping just clear of the projected upslope. The Support Zone (green triangle) was breached, indicating a modification of the Channel: the purple box. Taking this as a guide, I would say that the graph is back in the Resistance Zone now, ready for a downswing soon.
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