FX.co ★ EURUSD remains inside bullish channel

EURUSD bulls are making another try to close the day above 1.2140, something that they could not achieve the past few sessions, despite trading above it. EURUSD remains inside the bullish channel in the short-term and as long as price is above 1.2050 we expect 1.22 and higher to be seen.

Blue lines -bullish channel

EURUSD continues to make higher highs and higher lows. The recent low is at 1.2058 and it is crucial for the short-term trend. Staying above it will be crucial for the uptrend and for reaching 1.2260. In a previous analysis we explained the pull back that was expected towards 1.2090 and the upward reversal for next target of 1.2260. This remains our primary scenario as long as price holds recent lows.