EURUSD in the Ascending Parallel Channel

EURUSD has been dropping significantly in the last few weeks.

Currently, price has been pushed to the upside after approaching to the red support level. Moreover, it is moving in an ascending parallel channel and has been rejected from the channel’s lower band.

We can also see the bullish structure with the higher low formation on the chart.

I expect a rise for EURUSD towards the channel’s upper band with the two targets which have been marked with green lines.

What is your outlook on EURUSD? Feel free to share your ideas in the comments.