FX.co ★ EUR/USD in up channel

EUR/USD Retests Buyers!

The currency pair is trading at 1.0584 at the time of writing. After jumping above the downtrend line, the rate was expected to develop a new upward movement. In the short term, it has increased within an up channel.

As long as it stays above the uptrend line, the price could resume its growth. We have a strong demand zone around the uptrend line. Still, a larger growth could be activated only after jumping above 1.0686.

EURUSD Trading Conclusion!

Coming back to test and retest the uptrend line could bring new buying opportunities.

Only dropping below the uptrend line and under 1.0526 invalidated a new upward movement.