Euro seems failed to break support at 1.0560. This could lead to an impending bullish move that will bring the euro to retest the upper downtrend channel and likely to break it to go to touch 1.0710 area
Key support 1.0710, placed near the bottom of the downtrend channel, it was felt that the euro has reacted with a bullish move, which could lead to re-test the upper parts of the channel. Key levels are 1.0810 and 1.0840. I expect on these levels a reaction euro that could bring down, again, to break up the lower part of the channel.
The euro, has formed a bearish channel. His break, lead the euro to 1.0560.
Important the area 1.0710, the low part of the channel, which could trigger a bullish movement or, to rupture a bearish move.
The euro, after breaking down the 1.0860-1.0810 area, is testing the 1.0710 support. The formation of the bullish cypher, could bring an impending bullish movement though not surprise me to see the first euro at the price of 1.0560. I highlighted with key levels to be considered for this week
It seems that the euro is willing to go down to test the first support zone at 1.1340. The euro at the time, could continue to decline or return to follow the uptrend to break the downtrend channel. Key levels at present are: 1.13524 - 1.13775 - 1.13836