FX.co ★ EURUSD remains inside bullish channel

EURUSD continues to trade inside the upward sloping channel created back at the beginning of November. Price continues making higher highs and higher lows as price continues to respect the lower channel boundary and bounces off the support.

Green lines - bullish channel

EURUSD is trading right on top of the lower channel boundary. Support is important at recent low at 1.2215. Bulls need to stay inside the channel if they wish to continue higher towards 1.2350. Price is moving higher after last Thursday's pull back. Price is respecting the lower channel boundary. So far no reversal signal and no sign of weakness. Bulls continue to be in control of the trend. If support at 1.2215 fails to hold then we should look for pull back targets.