FX.co ★ EURUSD short-term analysis

EURUSD continues to trade inside the medium-term bearish channel, but it now starting to show reversal signals as price respected the key horizontal support level of 1.1538.

EURUSD is showing signs of a possible double bottom around 1.1520. Price has short-term resistance at 1.16. The upper channel boundary resistance is at 1.1655. Both of these two levels need to be captured by bulls in order for short-term trend to change to bullish. Failure to stay above 1.15, will lead to a move lower towards 1.13-1.12.