FX.co ★ EURUSD trading inside bullish channel.

EURUSD is trading around 1.1850. EURUSD is clearly in a bullish trend. Price is making higher highs and higher lows and price is inside an upward sloping channel. As long as these two conditions are met, trend will remain bullish in the short-term.

The lower channel boundary support is at 1.1820. Breaking below this level will be a sign of weakness and the first sign of a reversal. The latest low that produced a higher high is at 1.18. Breaking below it will confirm the short-term trend change. Until then we remain bullish waiting for price to reach our 1.19 target.