cheminacci
Short

EURUSD Likely To Retest Channel Lows

FX:EURUSD   Euro / U.S. Dollar
Within the large consolidation wedge that EURUSD             has been in for the last 2 years, there's been quite a bit of movement that has presented a wide array of opportunities. Over the last month Euro             broke out of an ascending channel after the Brexit announcement, confirming a new downward trend within a descending channel . EURUSD             has approached the top of this new channel and looks like it is preparing to retest previous lows. Entry in the 1.1190s, Stops above 1.1280 with Target 1 at 1.0950 (retest of recent low), Target 2 at 1.0870 ( 1.272 extension and previous support) and Target 3 in the 1.0770s ( 1.618 extension and previous support levels).
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