FX.co ★ EURUSD bounces off channel support

EURUSD has held above 1.1750 support. Price is still inside the bullish channel. Price is bouncing off the key support we mentioned in previous analysis and our bullish trade plan is so far working nicely.

Pink line - support trend line

Green rectangle- target as long as price is inside channel

EURUSD is bouncing strongly towards 1.19. Today's low at 1.1799 is important as bulls do not want to see price break below it. Trend remains bullish and so do we as price is still inside the channel. Our stop is raised from 1.1750 to 1.1790. Resistance is at 1.1920 and bulls want to see price recapture that level. This will give boost towards 1.20 and higher.