EURUSD technical analysis for December 6, 2021.

EURUSD remains inside the downward sloping channel since the May top. Price continues making lower lows and lower highs on a daily basis and there is still no confirmed reversal of trend.

Price is still inside the bearish channel. However as we mentioned in previous posts, price was showing some signals that the downtrend was weakening. That is why last week when price was trading around 1.1280-1.13 and the RSI continued to provide bullish divergence signals, we said we expect a reversal and a push higher. Our minimum target is at the upper channel boundary around 1.1550.