FX.co ★ EUR/USD Intraday Technical Analysis & Trading Recommendation January 26, 2012

EUR/USD is now testing the upper limit of the bullish channel at 1.3165 with high probability of a reversal there.

This level 1.3165 is where the upper limits of the marked three channels are located, which gives a SHORT opportunity.

So it's recommended to watch 15M timeframe for BEARISH price action to go SHORT on EUR/USD with TP at 1.3110, 1.3080, 1.3030 then 1.3000.

SL should be located above 1.3205.