EURUSD Still bearish but buy above the Channel Down.

The EURUSD pair is emphatically breaking above the 4H MA100 (green trend-line) with the only time it has done so since this July Channel Down started being on August 30. The signal to sell has always been a 4H MACD Bearish Cross, so this is what we will wait for in order to lower the risk. If successful, we will target 1.0400 (-2.33% decline as the previous bearish legs). If however the price crosses above the Channel Down first and the 4H MA200 (orange trend-line) we will buy the break-out and target the 1D MA50 (red trend-line) at 1.0785.

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