EUR/USD in the channel?

FX:EURUSD   Euro / U.S. Dollar
The last time we were looking at this currency pair, we were expecting a break below the lower support line, and then a bearish move after that. We also pointed out the possibility of the price bouncing from the support line, which is exactly what happened here. A rather big bullish move has happened since we first published the original trading idea. The price has touched a resistance line now, and we are waiting for the price to either bounce from this line and make a bearish move, or to break above the line, and make a bearish move. We believe that the bounce and a bearish move has a higher probability of happening. Watch the price around the upper line, for confirmation.

On the four hour chart, we do not see any other trading ideas available at the moment. Expecting the same bearish move to happen.

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We wih you good luck with your trading!

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