FX.co ★ EURUSD remains inside bullish channel

EURUSD is back again above 1.22 and still inside the green upward sloping bullish channel since late October. Trend remains bullish. Price continues making higher highs and higher lows. As long as price is above 1.2150 bulls remain in control.

EURUSD continues to respect the lower channel boundary. As long as price is above 1.2150 we remain bullish. Support by the channel is provided at 1.2165-75. Bulls need to respect this level and stay above it. Breaking below and out of the channel could bring additional pressure on the price and could lead to a larger pull back. So far no sign of reversal.